*^^- 

<^..^.. 


IMAGE  EVALUATION 
TEST  TARGET  (MT-3) 


/ 


0 


4 


w 

^ 


V 


Ks 


4? 


/. 


•^ 


1.0 


I.I 


1.25 


ti 


32 
6 


1.4 


21 

22 


?    •-    llllffl 


1.8 


1.6 


PhnlnoraDhic 

Scisnces 
Corporation 


23  WEST  MAIN  STREET 

WEBSTER,  N.Y.  14580 

(716)  872-4503 


m^> 


%^ 


.„-/ 


ji>^ 


^4 


L«5> 


•^ 


CIHM/ICMH 

Microfiche 

Series. 


CIHM/ICMH 
Collection  de 
microfiches. 


Canadian  Institute  for  Historical  Microreproductions  /  Institut  canadien  de  microreproductions  historiques 


?SS 


Technical  and  Bibliographic  Notes/Notes  techniques  et  bibliographiques 


The  Institute  has  attempted  to  obtain  the  best 
original  copy  available  for  filming.  Features  of  this 
copy  which  may  be  bibliographically  unique, 
which  may  alter  any  of  the  images  in  the 
reproduction,  or  which  may  significantly  change 
the  usual  method  of  filming,  are  checked  below 


D 
D 
□ 

U 
D 
D 

D 


D 


Coloured  covers/ 
Couverture  de  couleur 

Covers  damaged/ 
Couverture  endommagie 

Covers  restored  and/or  laminated/ 
Couverture  restaurde  et/ou  pelliculde 

'  Cover  title  missing/ 
Le  titre  de  couverture  manque 

Coloured  maps/ 

Cartes  g6ographiques  en  couleur 

Coloured  ink  (i.e.  other  than  blue  or  black)/ 
Encre  de  couleur  (i.e.  autre  que  bleue  ou  noire) 

Coloured  plates  and/or  illustrations/ 
Planches  et/ou  illustrations  en  couleur 

Bound  with  other  material/ 
Relid  avec  d'autres  documents 

Tight  binding  may  cause  shadows  or  distortion 
along  interior  margin/ 
Lareliure  serree  peut  causer  de  I'ombre  ou  de  la 
distortion  le  long  de  la  marge  int6rieure 

Blank  leaves  added  during  restoration  may 
appear  within  the  text.  Whenever  possible,  these 
have  been  omitted  from  filming/ 
II  se  peut  que  certaines  pages  blanches  ajout^es 
lors  d'une  restauration  apparaissent  dans  le  texte, 
mais,  lorsque  cela  6tait  possible,  ces  pages  n'ont 
pas  ete  film^es. 


L'Institut  a  microfilm*  le  meilleur  exemplaire 
qu'il  lui  a  6t6  possible  de  se  procurer.  Les  details 
de  cet  exemplaire  qui  sont  peut-dtre  uniques  du 
point  de  vue  bibliographique,  qui  peuvent  modifier 
une  image  reproduite,  ou  qui  peuvent  exiger  une 
modification  dans  la  m6thode  normale  de  filmage 
sont  indiqu^s  ci-dessous. 


□    Coloured  pages/ 
Pages  de  couleur 

□    Pages  damaged/ 
Pages  endommag^es 

El    Pages  restored  and/or  laminated/ 
J 


Pages  restaur6es  et/ou  peiliculees 

Pages  discoloured,  stained  or  foxe< 
Pages  d^colorees,  tachetees  ou  piquees 

Pages  detached/ 
Pages  detachees 


I 1    Pages  discoloured,  stained  or  foxed/ 

I      I    Pages  detached/ 


I      I    Showthrough/ 


n 


Transparence 

Quality  of  prir 

Quality  in^gale  de  I'impression 

Includes  supplementary  materii 
Comprend  du  materiel  supplementaire 

Only  edition  available/ 
Seule  Edition  disponible 


I      I    Quality  of  print  varies/ 

I      I    Includes  supplementary  material/ 

p~]    Only  edition  available/ 


Pages  wholly  or  partially  obscured  by  errata 
slips,  tissues,  etc.,  have  been  refilmed  to 
ensure  the  best  possible  image/ 
Les  pages  totalement  ou  partiellement 
obscurcies  par  un  feuillet  d'errata,  une  pelure, 
etc.,  ont  6te  film6es  h  nouveau  de  facon  ^ 
obtenir  la  meilleure  image  possible. 


D 


Additional  comments:/ 
Commentaires  suppl6mentaires: 


This  item  is  filmed  at  the  reduction  ratio  checked  below/ 

Ce  document  est  film6  au  taux  de  reduction  indiqu6  ci-t'essous. 


10X 

14X 

18X 

22X 

26X 

SOX 

V 

15X 

1fiX 

20X 

24k 

28X 

32X 

The  copy  filmed  here  has  been  reproduced  thanks 
to  the  generosity  of. 

Library  of  Congress 
Photoduplication  Service 

The  images  appearing  here  are  the  best  quality 
possible  considering  the  condition  and  legibility 
of  the  original  copy  and  in  keeping  with  the 
filming  contract  specifications. 


Original  copies  in  printed  paper  covers  are  filmed 
beginning  with  the  front  cover  and  ending  on 
the  last,  page  with  a  printed  or  illustrated  impres- 
sion, or  the  back  cover  when  appropriate.  All 
other  original  copies  are  filmed  beginning  on  the 
first  pago  with  a  printed  or  illustrated  impres- 
sion, and  ending  on  the  last  page  with  a  printed 
or  illustrated  impression. 


The  last  recorded  frame  on  each  microfiche 
shall  contain  the  symbol  — •►  (meaning  "CON- 
TINUED"), or  the  symbol  V  (meaning  "END"), 
whichever  applies. 

Maps,  plates,  charts,  etc.,  may  be  filmed  at 
different  reduction  ratios.  Those  too  large  to  be 
entirely  included  in  one  exposure  are  filmed 
beginning  in  the  upper  left  hand  corner,  left  to 
right  and  top  to  bottom,  as  many  frames  as 
required.  The  following  diagrams  illustrate  the 
method: 


L  exemplairo  film6  *ut  reptoduit  yrfice  it  la 
g^ndrosit^  de: 

Library  of  Congress 
Photodiipliciition  Service 

Les  images  suivantes  ont  6t6  roproduites  avec  le 
plus  grand  soin,  compte  tenu  de  la  condition  et 
de  la  nettet6  de  I'exemplaire  tilm6,  et  en 
conformity  avec  les  conditions  Ju  contrat  de 
filmage. 

Les  exemplaires  originaux  dont  la  couverturo  en 
papier  est  imprim6e  sont  film6s  en  commenpant 
par  le  premier  plat  et  en  terminant  soit  par  la 
derni6re  page  qui  comporte  une  empreinte 
d'impression  ou  d'illustration,  soit  par  le  second 
plat,  selon  le  cas.  Tous  les  autres  exemplaires 
originaux  sont  film6s  en  commenpant  par  la 
premidre  page  qui  comporte  une  empreinte 
d'impression  ou  d'illustration  et  en  terminant  par 
ia  dernidre  page  qui  comporte  une  telle 
empreinte. 

Un  des  symboles  suivants  apparaitra  sur  la 
derni^re  image  de  cheque  microfiche,  selon  le 
cas:  le  symbole  — »-  signifie  "A  SUIVRE  ",  le 
symbole  V  signifie  "FIN". 

Les  cartes,  planches,  tableaux,  etc.,  peuvent  etre 
film6s  A  des  taux  de  r6duction  diff6rents. 
Lorsque  le  document  est  trop  grand  pour  etre 
reproduit  en  un  seul  clich6,  il  est  film6  d  partir 
de  Tangle  sup6rieur  gauche,  de  gauche  S  droite, 
et  de  haut  en  bas,  en  prenant  le  nombre 
d'images  f;6cessaire.  Les  diagrammes  suivants 
illustrent  la  m6thode. 


32X 


1 

2 

3 

4 

5 

6 

^^ 


STATUTORY  REQUIREMENTS 


ItEI.ATINO    TO 


INSUKANCE 


IN     TlIK 


UNITED  STATES  AND  CAN  AD  AS. 


COMPHISINO  ALL  THE  ReQUIRKMKNTS   NECESSARY  FOR  THE  ADMISSION  AND  TRANS- 
action of  btlbinkss  in  the  states  and  in  canada,  by  fire, 
Life,  and  Casualty  Insurance  Companies  of  other  _ 
States  and  Foreion  Countries. 


CORRECTED  TO   DECEMBER    I,    1889. 


HARTFORD,  CONN.: 

Published  by  The  Insurance  Journal. 

1889. 


"Mr..:  V- 


Entered,  according  to  Act  of  ConBresg,  In  the  year  1889, 

BY  H.  R.  HAYDEN, 
In  the  Office  of  the  Librarian  of  CongredB,  at  WflshlnRton. 


T/u  Com,  Lockwood  «6  JBrainara  Company,  Bartford,  Conn. 


■k 


ABSTRACT  OF  STATUTORY  REQUIREMENTS 

OK  THE  SEVERAL  STATES  AN'n  CANADA, 

RELATING  TO  mSURANCE. 


1S89, 


riKton. 


N.  B.  —  The  reqnlruinnDtii  In  reffronce  to  Domeotlc  Compuilti  tra  not  Included  herein. 
Foreign  Coropanleit  hh  clnMlfled  herelu  are  Cumpanlui  ezlitInK  under  •uthorlty  of  Kovern- 
mente  fureign  tu  the  United  States.* 

ALABAMA. 

(LeglHlutnr*  meets  bleuulallj.    Next  session  Nov.  4, 1800.] 
Cyrus  D.  Hoque,  Auditor  of  State,  Montooheky. 

Adnitnnion.  —  Every  company  desiring  to  transact  business  in 
this  State,  before  adnaission,  must  pay  into  the  State  treasury  one 
hundred  dollar?,  must  tile  with  the  Auditor  a  certified  cop/  of  its 
charter  or  deed  of  settlement,  a  statement  under  the  oath  of  the  Presi- 
dent and  Secretary,  or  other  chief  officers  or  managers,  showing  the 
name  and  location  of  the  company,  the  amount  of  its  capital  stock,  the 
amount  therefor  paid  in,  and  the  financial  condition  of  the  company 
on  the  preceding  31st  day  of  December,  a  written  instrument  under 
seal,  designating  a  known  place  of  business  and  an  agent  or  agents 
therein,  authorizing  the  agents  of  the  company  to  acknowledge  service 
of  process  for  and  in  behalf  of  the  company,  and  consenting  that  service 
of  process  upon  any  such  agenta  shall  be  taken  and  held  as  if  served 
upon  the  company,  and  waiving  all  claim  of  error  by  reason  of  such 
service.  It  must  also  file  at  the  office  of  the  Secretary  of  State  and  with 
the  auditor,  an  instrument  in  writing  designating  at  least  cne  known 
place  of  business  in  the  State,  and  an  authorized  agent  residing  thereat. 

f!erti/ienteM  and  ^^«?n«S.  — Every  agent  of  a  life  insurance 
company  before  transacting  business  shall  procure  from  the  Auditor 
a  certificate  of  authority,  and  file  such  certificate,  together  with  a  copy 
of  the  statement  and  written  instrument  filed  with  the  Auditor,  in  the 
oflBce  of  the  Judge  of  Probate  of  the  county  in  which  the  ofiice  of  such 
agent  is  located.  Such  certificate  shall  be  renewed  annually  in  July, 
and  shall  be  annually  filed,  with  a  copy  of  statement,  in  the  ofiice  of 
the  Judge  of  Probate. 

Fire  and  Marine,  —  Every  company  must  possess  at  least  one 
hundred  thousand  dollars  of  actual  cash  capital  invested  as  required 


i,  Conn. 


4  ALABAMA. 

l)y  the  lawRof  tho  8t«to  whom  organized.  Annual  statementii  nhall 
b«  lUod  on  tho  10th  day  of  Jamiary.  in  tiach  y.-iir,  or  within  Ihirtv 
uays  thoieaftor,  showing  tho  con.lition  of  the  company  on  tho  procod- 
ing  aiHt  day  of  Uox^eyibir.  Tho  roinsuranco  fund  Hhall  bn  llfty  per 
cent  of  tho  amount  rocoivod  for  proniiums  on  all  unexpired  riHkg 

kach  company  Hhall  receive  a  cortilicatn  authorizing  it  to  do  bum- 
nessin  the  Htate.  which  shall  expire  on  tho  15th  day  of  January  in 
oach  year,  and  shall  be  renewed  annually  in  January.  Whenever  it 
shall  appear  to  the  Auditor  that  tho  assets  of  tho  company,  after  pro- 
vidinir  for  all  liabilities,  are  reduced  more  than  twenty-five  per  cent, 
below  the  capital  stock,  ho  shall  revoke  iho  authority  of  such  company 
or  its  agents  to  do  business  in  tho  State,  and  publish  such  reymiation 
in  one  or  more  newspapers  of  general  circulation  published  in  the 
SUte. 

T,lfc;  —  (('ertificateii  and  Agents.)  ..      .  t  i 

Every  company  shall  file  with  tho  Auditor  in  the  month  of  July 
in  each  year  an  annual  statement  giving  the  name  and  locality  of  the 
company,  amount  of  capital,  amount  of  capital  paid  in,  and  shall  state 
therein  the  gross  premiums  received  in  this  State  for  tho  year,  includ- 
ing  notes,  accounts,  and  all  other  Jiings  received  or  agreed  upon, 
as  compensation  for  insurance.  Also  state  therein  the  amount  of  taxes 
and  licenses  paid  in  each  county  and  ('.lo  amount  of  funds  invested  m 

*  ''tIio  statement  shall  bo  verified  by  fne  certificate  of  the  President 
and  Secretary,  or  Actuary,  under  oath,  and  tho  seal  of  the  company. 
Every  company  which  shall  invest  and  keep  invested  in  Alabama 
the  net  reserve  upon  policies  issued  upon  the  lives  of  citizens  of  that 
State  shall  bo  regarded  as  a  Home  company  and  entit  od  to  all  the 
privileges  of  companies  incorporated  under  the  laws  of  that  State. 

F«i'c/</M.  — Every  company  doing  business  in  this  State  shall 
file  with  the  Auditor  a  certificato  of  the  Treasurer  of  this  State  or  of 
the  proper  officer  of  some  other  State  or  of  the  United  States  that  he 
holds  on  deposit  and  in  trust  for  the  benefit  of  all  the  policy-holders  of 
such  company  in  the  United  States,  properly  invested  ?««""^>^8  7«^J^ 
at  least  two,  hundred  thousand  dollars.  Such  companies  shall  file  the 
same  statements  as  are  required  of  Piro  and  Marine  company. 

rArenHeM.  — 'Every  agent,  before  taking  any  risks  in  the  city 
or  cmnuy  of  Mobile,  is  required  to  pay  to  the  Kiro  Department  Asso- 
ciation of  Mobile,  the  sum  of  two  hundred  dollars,  such  paymen  to 
l>e  made  annually.  Kvery  agent  taking  risks  or  transacting  any  busi- 
ness of  insurance  in  any  other  incorporated  city  or  town  m  the  State 
where  there  is  or  shall  be  fire  companies,  shall  pay  to  such  city  or  town 
annually,  the  sum  of  two  hundred  dollars,  for  the  benefit  of  such  com- 
pauies. 

I,v,.s._  Every  insurance  company  shall  pay  an  annual  license  fee 
to  the  treasurer  of  one  hundred  dollars.  For  every  statement  filed 
with  any  Judge  of  Probate,  five  dollars. 

Taa-PM  —The  agents  of  every  insurance  company,  in  the  month 
of  Jammry  in  each  year,  must  deposit  with  the  Assessor  of  the  county 


ALABAMA. 


nentfl  nhall 
thin  lliirty 
Llio  prucou- 
)<)  lifly  per 
riflks. 

to  do  buBi- 
January  iu 
'lionevor  it 
,  aftor  pro- 
re  per  cent, 
ih  company 
1  revwifttion 
i;.ed  in  the 


nth  of  July 
ality  of  the 
I  shall  state 
'ear,  includ- 
jreeJ  upon, 
unt  of  taxes 
invested  in 

le  President 
le  company, 
in  Alabama 
zcns  of  that 
id  to  all  the 
at  State. 

I  State  shall 
I  State  or  of 
tates  that  he 
ly-holders  of 
irities  worth 
shall  file  the 
)any. 

i  in  the  city 
■tmont  Asso- 
i  payment  to 
ing  any  busi- 
in  the  State, 
city  or  town 
of  such  com- 

al  license  fee 
aten.cnt  filed 


in  the  month 
of  the  county 


in  which  the  ofBco  of  the  agent  is  Im^atod  a  .latement  vorifi.d  by  the 
oath  :.f  Huch  agent,  Hl.owu.g  tho  gron- anu.unt  of  l-p;'"'''';™,  [ 
by  Hurli  agnnt  for  any  company  for  ll.o  tax  year,  wuh  a  Bt.iti)mm,t  of 
oxtKjnilitures,  losses  paid,  and  rutuinod  pniuuuma. 

Al  such  prorniums  are  subject  to  a  tax  of  one  iK,r  cent,  after  de. 
du.-ti.ur^(H,SditureH,  return  premiums,  an.i  Iohhoh,  for  the  payment 
o  w  ich  tlx  the  ag;nt  is  held  renpouHible.  Any  ag..nt  or  con.pany 
?of.rsirg  to  imy  taxes  is  forever  debarred  from  doing  business  m  the 
State. 

l»MiameH.-  Agents  doing  business  for  a  company  without  com- 
plyiJgwSAhe  provisions  of  law  are  liable  to  line  or  imprmonmont^ 
TlK  higTie.Ht  line  impoHe.l  is  one  thousand  dollars  The  longest  to  m 
of  imprisonment,  six  months.  Agents  are  also  liable  for  taxes  and  for 
losses  incurred  unless  they  have  complied  with  *'»'  law^ 

All  agent  is  defined  as  any  person  who  Holicits  insurance  on  behalf 
of  any  insurance  company  not  organized  un.ler.  or  mcorpo^^^^^^^ 
the  laws  of  this  State,  or  who  takes  or  transm  ts,  other  than  for  hiiii^ 
B  If  anrapplication  for  insurance,  or  any  policy  of  msurance,  to  or 
from  such  company,  or  who  advertises,  or  otherwise  gives  noti<;o,  that 
he  w  II  rlTvo  or  transmit  the  same,  or  who  shall  receive  or  deliver  a 
ohcy  ofTn^urance  of  any  such  company,  or  who  shall  «^amine  or  in- 
E  anv  risk  or  receive  or  collect,  or  transmit  any  premium  of  insur- 
ance  or  make  or  forward  any  diagram  of  any  building  or  buildings, 
old;  or  perform  any  other  act  or  thing  in  the  making  or  consun.ma^- 
g  of  Ly  contract  of  insurance  for  or  with  any  such  insurance  com- 
nanv  other  than  for  himself,  or  who  shall  examine  .no  or  adjust,  or 
Ldin  adjust  K,  any  loss  for  or  on  behalf  of  any  such  msuranm  com- 
patr  whither  ^ny  of  such  acts  shall  l«  done  at  the  instance  or  re- 
SS  or  by  the  employment  of  such  insurance  company,  or  of  or  by 
2ny  broker!  or  other^erson,  shall  be  lu-ld  to  he  the  agent  of  the  com- 
pany  for  which  the  act  is  done,  or  the  risk  is  taken. 

ASSESSMENT     INBOBANOK. 

><«7m<«»'<«W.  — Assessment  companies  must  file  with  Auditor 
Btat^lnfof  busUiesB  for  year  ending  previous  to  December  31st. 
Auditor  will  furnish  blanks  for  statements. 

A^^^^,»1  «//»/*•  »»*'*ii«.—  Statements  are  to  be  made  on  or  he- 
foreiJJSh*?slKcryeS'ol  business  of  previous  year,  upon  blanks 
furnished  by  Auditor.      ■ 

j«^»,/i.  ««//  Attorneih  —  ^omB  place  in  the  State  must  be 
designSfas  principal'Sralft  some  perLn  named  there  to  accept 
service  of  process,  if  the  person  thus  designated  shall  die,  the 
rrancv  mu?t  be  filled  within  thirty  days.  Notice  of  any  change  of 
nkce  or  Trson  shall  be  given.  These  appointments  and  changes  are 
t^  ma?e  under  the  hand  of  the  President  and  Secretary,  and  are  to 
be  fileJ  in  the  Auditor's  office. 

Taxesi  and  Fees.-  Every  such  company  shall  pay  to  the  State 
Treasurer  one  hundred  dollars,  same  as  other  companies. 


6  A  KK  ANSA  8. 

Pettnltb'H,  —  Fur  neglect  to  comply  witii  law,  or  for  niKking  any 
fulMK  utile  iiiiMi.  a  ]H<naUy  i»hal!  lie  oxiiotwl,  on  conviction,  of  not  less 
than  onu  liurulrud  or  more  than  (Ivo  liundrixl  ilollan. 


ARKANSAS. 


(Irf-KiiUtur*  me«ti  liltiiinUlly.     N«it*«uli>ii  J«n.,  IROl.] 

W.  S.  DuNLOP,  Auditor  and  [na.  Cummunioner,  LiTTM  Rooc. 

AdmlHHlitn.  —  Every  inBumnco  company  duRiring  to  transact 
buflinvHS  in  this  Ulatu,  Inifuru  adniJHHion  muHt  liavo  a  HubHcnbud  capi- 
tal of  ono  hundred  thouHand  <ioliura,  with  a  puid-up  ca|iitul  of  lifty 
thousand  dollars,  and  must  file  vyilh  the  Htate  Auditor  — 

A  cortKied  copy  of  its  charter. 

A  cortihcatu  giving  thu  dato  of  its  organization,  and  location  of  its 
princi[)ul  oflice. 

A  statement  veriflod  by  the  signuturn  and  oath  of  thu  ['resident  or 
Vice-Presitlout,  and  Secretary  or  Actuary  of  iho  company,  showing  its 
condition  and  business  on  tho  pruci-diiig  thirty-ilrst  duy  of  December. 

A  written  stipulation  duly  autlienticated  by  the  company,  agreeing 
that  any  legal  process  affecting  the  comj)any,  served  on  the  Auditor  or 
party  designated  by  him,  or  the  agent  sjwcilied  by  tho  company  to  re- 
ceive service  of  process,  shall  have  t''o  same  otfect  as  if  served  j)er- 
sonally  on  the  company  within  this  State.  Such  slipulution  cannot  be 
modified  or  revoked,  except  that  a  new  ono  may  be  .substituted  re(|uir- 
ing  or  dispensing  with  service  at  the  ofBce  of  the  company  in  this 
State. 

CevtfflvateH  and  Aaetitn, —  Every  comimny  comi)lying  with 
the  requirements  of  law  shall  receive!  from  the  Auditor  a  ceitidcate  of 
authority.  Each  company  authorized  to  do  business  in  this  State  sholl 
certify  to  the  Auditor  the  names  of  all  agontn  appointed  in  this  State. 
The  Auditor  shall  issue  to  each  agent  a  certificate  of  authority,  show- 
ing that  the  company  is  authorized  to  do  busim^ss  in  the  State,  and 
that  bo  is  appointed  its  agent. 

Kjratninat ions  and  Impairmi'ntH.  —  Tho  Auditor,  for 
probable  cause,  may  visit  and  investigate  the  affaiis  of  any  company 
doing  business  in  this  State,  at  its  principal  office,  wherever  it  may  be 
(not  of  a  State  where  the  substantial  provisions  of  the  ''.Act  to  estab- 
lish an  Insurance  Bureau  "  of  this  State  shall  be  enacted).  He  may 
revoke  its  certificate  if  the  reasons  for  granting  it  no  longer  exist,  or 
if  examination  be  not  permitted. 

If  after  charging  a  fire  and  marine  company  with  a  legal  re  insur- 
ance reserve  and  all  other  liabilities  its  capital  3tock  is  impainnJ  twenty" 
per  centum,  the  Auditor  shall  require  the  company  to  uiake  good  its 
whole  capital  stock  within  sixty  days,  and  if  this  is  not  done  ho  shall 
require  the  company  to  cease  to  do  business  within  the  State. 

If  any  life  insurance  company  has  not  assets,  after  providing  for 


5_- 


A  UK  A  N.MAS. 


r  milking  any 
t!,  of  not  lew 


i.R  Rook. 

g  U)  transAct 
McnbiHl  cupi- 
kpitul  of  fifty 


ocation  of  its 

I'rusiilunt  or 
r,  iJhowing  its 
>f  I)«)c«inl)«r. 
iiiy,  ftgr<>i)ing 
i«  AiitlitDr  or 
rii|)any  to  ro- 
f  servud  pt^r- 
on  (;aiiiiot  bo 
itutoil  n'<|uir- 
ptuiy  ill  this 

mplyiiiff  with 
coitidcuto  of 
JH  Statu  aliall 
in  tins  Statu, 
liority,  show- 
le  Statu,  and 

Auditor,  for 
iny  company 
ur  it  may  be 
."Xct  to  ostab- 
!).  n«  may 
gcr  exist,  or 

gal  re  iiisur- 
ainnJ  twenty' 
lako  good  itB 
lone  ho  shall 
&te. 
roviding  for 


all  liabilitiuB  ox«  hwivo  of  capital  Htock,  u.|iial  to  tho  nut  valim  ot  all  Ita 
policiMi  in  forou.  thu  Auditor  nhall  piibliMli  tiin  fact  that  thu  condition 
of  tho  company  i*  Iwlow  t)w  standard  of  Hwfcty  cHtablinhcd  by  this 
HUt«,  and  roquiru  th.^  ( oinpany  to  cuattu  doing  now  huHinuM  in  thin 
Bute. 

Flff  null  Hftrtn*',  —  Annual  iitatoinonta,  vpridud  by  tho  nig- 
natiiro  and  oath  of  tin-  IVoHidont  or  Vic  I'rcnidi'nt  and  S«'crotary  of 
the  company,  Mhail  bo  liiod  on  tb.-  flr^t  day  of  January  in  .<ach  yoar, 
or  within  wixty  days  timrcaftcr,  ami  nhail  nhow  thu  condition  of  tho 
company  on  the  pn-cinling  :nr.t  day  of  Doconibflr,  and  its  buMinims  for 
the  year  prccciling. 

Arkannas  han  a  vaiuod-policy  law. 

Thfl  reiimurancu  fund  HJiall  !•«  computed  at  fifty  per  centum  of  all 
premiums  on  unuxpirod  tiru  risks  having  hwi  than  ono  year  to  run; 
pro  raU  of  all  prumiutns  on  unoxpire<l  fire  risks  havinw  more  than  ono 
year  to  run;  tho  ontiro  premiums  received  on  unexpired  marine  and 
inland  risks.  When  the  re  insurance  fund,  thuH<-alculatpd,  is  less  than 
forty  per  centum  of  all  premiums  roceive<l  during  the  year,  then  tho 
wholo  of  the  premium  rocoived  on  unexpired  risks  shall  constitute  the 
ro-insuranco  fund. 

Life.  —  Annual  statements  must  be  filed  on  the*  first  ilay  of  Jan- 
uary in  each  year,  or  within  si.xty  days  thereafter,  showing  tho  c(mdi- 
tion  of  tho  company  on  the  preceding  aist  day  of  IXcember 

Such  statements  must  be  iiccompaiiiutl  by  u  nchedule  of  all  policies 
in  force  in  the  company,  if  the  certificate  hereinafter  imuitioned  is  not 

furnished. 

The  Auditor  is  ro(}uired  to  annually  value  the  policies  of  all  com- 
panics  <loing  business  in  the  State  which  do  not  furnish  the  c«<rtificate 
of  the  Insurance  (JommisHioner  of  the  State  under  whoso  authority 
the  comiMiny  is  organized,  showing  the  not  value  of  oil  policies  in  force 
in  such  company,  calculated  upon  tho  basis  established  by  this  State, 
and  stating  that,  after  being  charged  with  all  debts  and  claims,  the 
company  had  in  safe  securities  an  amount  equal  to  tho  net  value  of  its 
policies  in  force,  and  that  the  company  is  entitled  to  do  business  in  ita 
own  State. 

The  standard  of  valuation  in  this  State  is  the  American  Experi- 
ence Table  of  Mortality,  and  four  and  a  half  per  centum  interest  per 
annum. 

Foreian. Foreign  companies  shall  transmit  an  annual  state- 
ment of  their  business  other  than  that  done  in  the  United  States,  prior 
to  the  first  day  of  July  in  each  year. 

Taxes, Every  company  shall  make  a  report  to  the  Auditor  at 

,he  time  of  filing  its  annual  sUtemont,  under  oath  of  its  President, 
i^ecretary.  or  agent,  showing  the  entire  amount  of  premiums  received 
in  this  State  during  tho  year  ending  on  the  preceding  3l8t  day  of 
December,  and  after  deducting  losses  and  commissions  therefrom  shall 
pay  into  the  StatQ  treasury  on  or  before  the  first  day  of  March  a  tax 
of  two  an    one-half  per  centum  upon  such  premiums. 

Municipal  licenses  and  taxes  prohibited. 


K 


m 


§  OAMKOUNIA. 

|iVr»».  —  Klllng  oh»rt«r,  flftiwn  «lnll»M. 

Kiiiiiic  nUtoiiu'iil  of  cortifkati*,  t*.n  dollara. 

Cortillroto  of  RUfliorilv,  lw>  dollarn. 

Kv«ry  <o|»y  of  any  i»i»or  on  llUi  in  iI>b  ln»turftnc«  Hur.'»n,  |H>r  folio, 
Iwonty  c«nU. 

AfflxiiiK  ofBclftI  Mai  and  cortifyinR  nuch  <!<)j>y,  oim  «l..ll»r. 

ValuiiiK  lif«  policittn,  for  iwh  oim*  tliouwinil  (Itillarii  of  intumDM 
vulin'tl,  i\  Hittn  not  to  oxriMid  tlinui  cttnt*. 

Olllciftl  oxaminationd,  the  lu-tual  oxjM'nm'n  incurrml. 

Travtilinn  hki'IUh  nxiuimtl  to  piiy  a  licieinii  Uw  of  ono  hundrod  <lol- 
lam  for  «ach  yuar  or  fra«tioii  of  a  y«ar.     Tlio  yvar  ImginH  May  l«t. 

|'^•HOl^tl'M.  —  ^tiy  com|tany  nonlectinK  to  niaku  and  transmit 
any  Miatoiiumt  n'<iuire<l,  shall  forfttit  ono  hundred  dollara  for  oa<!hday'B 
nonli'Ct.  Any  poriton  or  corporation  traMMaotinK  tho  hu«iin«it«  of  inmir- 
anc«  without  complying  with  the  roquinmuMits  of  law  iihall  forfoil  and 
pay  to  tho  school  fund  five  hiindr«<l  dollars  for  owh  month  or  fraction 
thi>ro(.f  Huch  illoKal  businosM  is  done,  and  evt^ry  such  {Msrson  or  |>er«ona 
or  coriK)ratio.i  shall  also  ho  <l«omod  Kuilty  of  a  misdenioanor,  and 
uiM.n  conviction,  shall  he  Hnod  in  any  sum  not  loss  that  flvo  hundrinl 
dollan".  Any  offlcor  or  agonl  doinn  hiisinoss  who  shall  mako  any  fidwi 
•tat.imonts,  roproHwiilfttions,  or  protonses,  for  tho  purpow*  of  ohtftining 
business,  shiill  bo  j/uilty  of  a  folony,  and  on  conviction  sontoncod  to 
thfl  i)cuitontiary  not  loss  than  throo  nor  more  than  ten  yoari. 

A8BKH8MENT    INHUHANOB. 

Traveling  agents  are  roquirod  to  pay  one  hundred  dollars  for 
liconse  for  each  yeiir  or  fraction  thoroof .  Year  ends  A  {)ril  30th.  T*>«ro 
aro  no  special  laws  roKvdating  ttssossmcnt  insurance,  except  that  all 
mutual  or  assossment  companies  shall  give  bonds  to  bo  approved  by 
tho  Secretary  of  Stato  in  the  sum  of  twenty  thousand  dollars  for  the 
prompt  payment  of  assessments  to  beneficiaries. 


CALIFORNIA. 

[L*KlilMiira  me«ti  biennially.    Naxt  MMlon  Jan.  5, 1801.) 
J.  C.  L.  Wadswortu,  Imurance  Commissioner,  San  Fhanoisco. 

After  April  1,  1890,  J.  N.  E.  Wilson  will  be  inBuranc^ 
commissioner. 

.4flm/^«/on.— Every  stock  company  desiring  to  transact  busi- 
ness of  insurance  in  this  State  must,  before  admission,  possess  an 
unimpaired  capital  stock  of  not  less  than  two  hundred  thousand  dol- 
lars, and  every  mutual  company  must  possess  available  cash  assets 
over  and  above  all  liabilities,  amounting  to  two  hundred  thousand  dol- 
lars and  must  file  with  tlie  Insurance  Commissioner  a  certified  copy  of 
its  charter  or  articles  of  incorporation  ;  a  certificate  from  the  proper 
State  official  showing  that  the  company  is  duly  organized  and  pos- 


OAUrORNIA. 


hir<i«u,  |N)r  (ulio, 

(totlHr. 

trH  (if  iimurAncu 


iiio  hundrnd  dni- 
^itiH  May  l«t. 

ko  and  tratiMmtt 
ira  for  each  day's 
)Urti»o«M  of  iniur- 
Mhall  forfoit  and 
lonlh  or  fraction 
wmon  or  {wruona 
imluntoanor,  and, 
hat  tivu  htindriHl 
II  makt)  any  false 
K)Ho  of  ohtnininK 
:ion  Hontoucod  to 
n  yoari. 


drod  dollars  for 
pril  30th.  Thori) 
),  oxcupt  that  all 
)  bo  approved  by 
id  doUan  for  the 


1801.1 

lN  FltANOIgOO. 

ill    be    insurance 


to  transact  busi- 
lesion,  possess  an 
red  thousand  dol- 
ilablo  cash  assets 
Ired  thousand  dol- 
a  certified  copy  of 
}  from  the  proper 
rganized  and  pos- 


ir 


MiMitm  tlu'  .npilnl  iilo«k  or  euMvla  rfiquiratl  by  this  MtaK^  ;  a  ittRHimi»nt 
of  itmonilltinn  and  afTaint  on  Ihn  prMMling  aUt  dny  of  I)«<i-ml«'r. 
veritti»l  by  tiu)  oaf  h  of  its  prini;ip«!  eswcuUve  ot!ii'«r ;  a  utatmimnt  of 
lht<  iiHfnoiiii.i  pltt.«of  r«'i»id«'n{i«  of  iioni't  ft><nnt  in  lhi»  Htato  ii|M)n  whom 
priMowi  <if  law  may  bu  «)rviid  in  ai'y  Ii-khI  pnwuodnno*  iiKaini«t  tliM 
company  ;  priK-Miw  m)  norvt'd  kiv«'*  Jiirwdictioii  ov<t  tlm  p«'r«<>ii  <if  (tiich 
cor|H)ralion  «r  company  'riiii  ai'unt  no  »pp<piiii<»i  uii'l  lU'itiKnahMl  mIihII 
Ih)  doiiini'd  iti  law  a  gonornl  animt,  and  muMt  !»'  ih.-  principal  iiKt<ril  ur 
chii'f  mmiiijiC"'"  '>'  '''«•  biwinflsn  of  such  cor|K)mtion  or  com|)any  in  thin 
Hlato. 

K.vory  Hiich  company  m  a  condition  prt'ciuhuit  to  th»  transa'-  'on  «»f 
inmirancM  bunlnci«H,  and  in  i.onHid<Tiiti<m  <>f  Ih"  privih'K"  to  ..anwu^t 
■uoh  buiiin.mii,  iihall  utipiilatn  that  if  at  any  tiino  mich  ci.mpa  ly  nIiuII 

bo  without  an  a^t^nt  in  tlio  Stato  upon  whom  pn hh  may  bo  •HcryiMJ. 

that  wirvico  may  Ik)  inado  ujx)n  tho  InHurimco  ('oininiNHiDimr,  Thn 
Inauranco  OomminMionor  numt,  within  ion  days  aft.  r  such  mirv.cn  upim 
him.  transmit  the  Hummoiii  or  logal  process  to  the  company. 

If  any  action,  rommnnciid  in  this  Stat«  by  a  citizen  thoroof  in  thn 
Htato  Court  aKaiimt  such  company,  bo  traiiMft.rrod  to  the  Umtixl  .Stages 
Circuit  (-'ouit,  the  rijrht  of  kiicIi  company  to  do  buMinosM  in  tho  Hfato 
shall  thoHMipon  coaw,  and  tho  (Jomn.iMHionorHhall  lovoko  iiH  <-orlillcato 
of  authority. 

Kv»iry  such  company  must  also  fllo  with  fh«  Insuranco  Commm- 
sioncr  a  bond  »\t!;im\  by  an  olllcor  or  oKont  of  tho  company,  with  two 
surotioH  to  bo  approvod  by  tho  Insurance  CommiHsionor,  in  tho  penal 
sum  of  two  thousand  dollarM,  condilioncd  that  tho  company  or  iiKont 
will  pay  U)  tho  projwr  oflicor,  <|iiartorly  in  iutvanc«(,  such  licotiMo.s,  foos, 
or  taxoH  as  shall  1m«  innwsod  by  law,  that  such  company  or  axiuit  will 
pay  to  tho  Mtato  all  stamp  and  other  dutios  imposed  by  law,  in  thn 
time  and  manner  proHcribed  by  law  ;  and  that  such  company  or  agent 
will  conform  to  all  tho  provirtions  of  law  miido  to  govern  thorn.  (The 
general  agent  is  nuiuirod  to  execute  and  (ilo  this  bond.) 

All  statonuuitH,  ixtrcniitagos,  estimates,  payments,  and  cahnilations 
must  be  made  in  gold  coin  of  tho  United  States. 

CeHtfleateH  find  Af/«/lf«.— Every  general  agent  thus  ap- 
minted  shall  procure  from  tho  ('ommissioner  a  certillcato  of  authority 
before  transacting  business  in  this  Htate. 

Before  nu-eiving  a  solicitor's  license,  if  any  life  insurance  solicitor 
shall  hif.vo  been  in  tho  employ  of  any  other  company  within  twelve 
months,  he  shall  produce  written  evidence  to  tho  Commissioner  that 
all  moneys  ho  has  received  for  any  such  company  have  boon  paid  to 
it,  or  to  its  general  agent. 

Every  life  insurance  solicitor  shall  file  witli  the  Commissioner  a 
power  of  attorney  authorizing  such  solicitor  to  act  for  the  company, 
and  shall  receive  a  license  from  the  Commissioner. 

All  corporations  or  persons  doing  tho  business  of  ins'iranco  in  this 
State  must  make  and  file  with  tho  In.suranco  Commissioner,  on  or 
before  the  15th  day  of  January  of  each  year,  a  statement  verified  by 
the  oath  of  the  principal  officer  or  manager  residing  in  this  .State, 
showing  the  business  done  in  this  SUte  during  the  year  ending  tho 
31  St  day  of  December  tlien  next  preceding. 


I     ; 


iL 


10 


CALIFORNIA. 


Examinations  and  ImpatrmentH.—  Tho  Commis- 
sioner, whoiiovor  ho  deems  it  necessary,  may  examine  any  company 
transacting  business  in  this  State.  Such  exfimihation  must  b.j  private, 
unloss  theCommissiopor  deems  it  necessary  to  publish  the  result  there- 
of, in  which  case  he  may  publish  the  same  in  two  newspapers  of  this 
State,  one  of  which  must  be  published  in  San  Francisco.  If  any  com- 
pany 'shall  be  found  to  be  insolvent,  the  Commissioner  must  revoke  the 
certificatvfs  grunted  in  behalf  of  such  company,  and  give  notice  by  mail 
or  personally  of  such  revocation,  and  cause  notice  thereof  to.  bo  tiled  in 
his  ofBco,  and  published  daily  for  four  weeks  in  some  nowKpapor  pub- 
lished in  San  Frn^ncisco.  Such  company  nuist  not  thereafter  issue  any 
nev  policies  or  renew  any  previously  issued. 

Any  company  is  insolvent  when,  aftoi  pro\iding  tor  all  claims  and 
liabilities  outstanding,  and  the  amount  required  by  tht  laws  of  this 
State  for  a  re-insuranco  fund  or  premium  reserve,  the  capital  stock  ol 
such  company  is  reduced  below  two  h>ind-ed  thousand  tioUars,  or 
below  seventy  five  per  cent,  of  the  amount  of  said  capital  si  ,^k  paid 
in  cash  ;  or  if  it  be  a  mutual  compftny,  if  the  available  casii  asaets  do 
not  exceed  its  liabilities  as  aforesaid,  two  hundred  thousand  doPv.rs. 

JE^ire  and  Marine. — Annual  statements  of  other  State  com- 
panies mvisl  bo  filed  on  or  before  the  tenth  day  of  March  in  each  year, 
and  show  the  condition  and  atiairs  of  the  company  on  the  preceding 
3)  St  day  of  December.  Such  statement  nmst  bo  published  in  a  daily 
newspaiKsr  in  the  city  where  the  principal  oflSco  of  the  company  is 
located  in  this  Stale  for  one  week.  The  re-iu&iirance  fund  shall  be 
computed  at  fifty  per  cent,  of  premiums  received  and  receivable  on  all 
fire  risks  and  marine  time  riske,  the  entire  premium  received  on  all 
unexpired  marine  and  ii/iand  navigation  risks;  and  ninety-five  per 
cent,  of  premiums  on  perpetual  fire  risks.  No  company  can  take  any 
one  risk  in  e:icess  of  one-tenth  part  of  i  s  capital  actually  paid  in  and 
intact  at  the  time  ot  taking  such  a  risk  without  re-insurance  of  the 
excess. 

Jjifi;, Annual  statements  must  be  filed  on  or  baforn  the  lOili  day 

of  March  in  each  year,  and  show  the  condition  and  a3airs  of  com- 
pany on  th->  preceding  3 1st  day  of  December.  Such  state'  must 
be  published  for  one  week  in  a  daily  newspaper  published  i  no  c;ty 
where  its  principal  office  is  located  in  this  State. 

Every  company,  upon  the  written  requisition  of  the  Commissioner, 
shall  furaish  him  with  the  requisite  data  for  determining  the  vai;:"'  of 
all  its  policies  outstanding. 

When  the  certificate  of  the  Insurance  Commissioner  of  the  valua- 
tion of  the  policies  of  any  company  organized  under  the  laws  of  this 
State  shall  not,  be  accepted  by  the  insurance  ofiScials  of  any  other  S^;ate, 
then  every  company  of  such  other  State  doing  business  in  chi  ■  Sta,te 
shall  be  required  to  have  its  policies  valued  by  the  Insurance  C  -nmis- 
sionor  of  this  State.  . 

All  valuations  shall  be  made  upon  the  basis  of  the  Amencan  Ex- 
perience Table  of  Mortality,  with  interest  at  four  and  one-half  per 
cent,  per  annum.  After  January,  1891,  the  actuaries'  table  will  be 
iised,  and  interest  compounded  at  four  per  cent. 


CALIFORNIA. 


11 


)    Cotnmis- 

y  company 
;  b.3  private, 
•CHult  there- 
pnrs  of  this 
If  any  com- 
t  revoke  the 
tice  by  mail 
,c  bo  tiled  in 
>:papor  pub- 
,er  issue  any 

[  claims  and 
laws  of  this 
ital  stock  of 
(ioUars,  or 
I  St  ,-k  paid 
811  astiots  do 
id  dol'vps. 

r  State  com- 
n  each  year, 
le  preceding 
d  in  a  daily 
company  ig 
ind  shall  be 
ivable  on  all 
reived  on  all 
aety-five  per 
can  take  any 
'  paid  iu  and 
ranee  of  the 


the  lOih  day 


3  of 
te- 
I  I 


corn- 
must 
no  city 


omn.?f<8ioner, 
the  vai;je  of 

of  the  valun- 
lawa  of  thib 

y  other  S';ate, 
in  chi '  State 

ince  C  mmis- 

^merican  Ex- 
one-half  per 
table  will  be 


I'olicies  may  bo  rogistorod  with  the  Insurance  Comtnissioner,  and 
the  reserve!  on  the  same  deposited  with  him. 

.Any  life  insurance  company  having  policies  in  this  State  issued  in 
accordance  with  law  may  have  a  special  agent  in  the  State  to  collect 
renewal  premiums.  He  shall  apply  for  and  receive  from  the  Insurance 
Commissioner  a  certificate  of  authority,  and  shall,  on  or  before  the 
15th  day  of  January,  annually,  file  with  the  Commissioner  a  statement 
under  oath,  showing  the  gross  amount  of  premiums  collected  by  him 
m  the  State  during  the  year  ending  on  the  preceding  Slst  day  of 
December,  and  pay  the  Commissioner  twenty  dollars.  Faihng  to 
make  such  statement  and  payment,  he  shall  forfeit  one  hundred  dollars 
for  each  renewal  premium  received  by  him. 

Every  contract  or  policy  of  insurance  hereafter  made  by  any  per- 
son or  corporation  organized,  under  the  laws  of  this  State,  or  under 
those  of  any  other  State  or  country,  with  and  upon  the  life  of  a  resi- 
dent of  this  State,  and  delivered  within  this  State,  shall  contain,  unless 
specifically  contracted  between  the  insurer  and  the  insured  for  tontine 
insurance  or  for  other  term  or  paid-up  insurance,  a  stipulation  that 
when,  after  three  full  annual  premiums  shall  have  been  paid  on  such 
policy,  it  shall  ceaso  or  become  void  solely  by  the  non-payment  of  any 
premium  when  duo;  its  entire  net  reserve,  by  the  American  experi- 
ence mortality,  and  interest  at  four  and  one-half  per  cent,  yearly,  less 
any  indebtedness  to  the  company  on  such  policy,  shall  be  paid  by  such 
company  as  a  single  premium,  at  such  company's  published  rates  in 
force  at  the  date  of  original  policy,  but  at  the  age  of  the  insured  at 
time  of  lapse,  either  to  the  purchase  of  non-participating  term  insur- 
ance for  iha  full  amount  insured  by  such  policy;  or  upon  the  written 
application  by  the  owner  of  such  policy,  and  the  surrender  thereof  to 
Duch  company  within  three  months  from  such  non-payment  of  pre- 
mium, to  the  purchase  of  non-participating  paid-up  policy,  payable  at 
the  time  the  original  policy  would  be  payable  if  continued  in  force; 
both  kinds  of  insurance  to  be  subject  to  the  same  conditions,  except 
as  to  payment  of  premiums,  as  those  of  the  original  policy.  It  may 
be  provided,  however,  in  such  stipulation,  that  no  part  of  such  term 
insurance  shall  be  due  or  payable,  unless  satisfactory  proofs  of  death 
be  famished  to  the  insuring  company  within  one  year  after  death,  and 
that,  if  death  shall  occur  within  three  years  after  such  non-payment 
of  premium,  and  during  such  term  of  insurance,  there  shall  be  de- 
ducted from  the  amount  payable  the  sum  of  all  the  premiums  that 
would  have  become  due  on  the  original  policy  if  it  had  continued  in 
force.  If  the  reserve  on  endowment  policies  be  more  than  enough  to 
purchase  temporary  insurance,  as  aforesaid,  to  the  end  of  the  endow- 
ment term,  the  excess  shall  be  applied  to  the  purchase  of  pure  endow- 
ment insurance,  payable  at  the  end  of  the  term,  if  the  insured  be  then 
living.  If  any  life  insurance  corporation  or  company  shall  deliver  to 
any  person  iii  this  State  a  policy  of  insurance  upon  the  life  of  any 
person  residing  in  this  State,  not  in  conformity  with  the  proviBions  of 
this  section,  the  right  of  such  corporation  or  company  to  transact  busi- 
nesa  in  this  State  shall  thereupon  and  thereby  cease  and  terminate, 
and  the  Insurance  Commissioner  shall  immediately  revoke  the  certifi- 
cate of  such  corporation  or  company  authorizing  it  to  do  business  in 


13 


CALIFORNIA. 


this  State,  and  publish  such  revocation  daily,  for  the  period  of  two 
weeks,  in  two  tiaily  newspapers,  one  published  in  the  city  of  Han 
Francisco,  and  the  other  in  the  city  of  Sacramento. 

FVi»v/«/<.  — Foreign  companies  doing  any  kind  of  insurance 
business  in  this  State  shall  file  their  annual  statements  on  or  before  the 
first  day  of  May  in  each  year,  made  up  for  the  year  ending  on  tlio 
preceding  .list  day  of  December,  and  shall  publish  the  same  for  one 
week  in  a  daily  newspaper  published  in  the  city  where  the  principal 
office  of  the  company  in  this  State  is  located.  . 

Foreign  fire,  marine,  or  inland  insurance  companies  having  on 
deposit  within  the  United  States,  assets  to  the  amount  of  $200,000 
over  and  above  liabilities  in  the  United  States,  as  security  for  the 
policy-holders  therein,  may  at  their  option  make  a  separate  statement 
to  the  Insurance  Commissioner  of  their  foreign  business  and  assets,  but 
shall  be  required  to  return  only  the  business  done  m  the  United  States, 
and  the  assets  held  by  or  for  them  within  the  United  States  for  the 
protection  of  the  policy-holders  therein. 

l/fcew«C8.  — Municipal  licenses  in  the  city  of  San  Francisco  are 
authorized  by  statutory  provisions.  The  licenses  are  established  by 
ordinance  of  the  city  and  county  of  San  Francisco.  Each  agent  shall 
pay  for  every  company  represented  by  him,  a  license,  aa  follows : 
Those  doing  business  to  the  amount  of  fifty  thousand  dollars  or  over 
per  quarter,  one  hundred  dollars  per  quarter.  Those  doing  business 
to  the  amount  of  twenty-five  thousand  dollars  per  quarter  and  less  than 
fifty  thousand  dollars,  seventy-five  dollars  per  quarter.  Those  doing 
business  to  the  amount  of  ten  thousand  and  less  than  twenty-five  thou- 
sand  dollars  per  quarter,  fifty  dollars.  Those  doing  business  to  any 
amount  less  than  ten  thousand  dollars  per  quarter,  twenty-five  dollars 

per  quarter. 

Reciprocal  provision  in  reference  to  licenses. 

Pees. All  fees  must  be  paid  in  advance  in  United  Slates  gold 

coin. 

For  filing  charter,  thirty  dollars. 

For  filing  annual  statement,  twenty  dollars. 

For  filing  any  other  paper  required  by  law  to  be  filed,  five  dollars. 

For  agent's  licenses,  one  dollar. 

Special  agent  of  life  insurance  company  to  collect  renewal  pre- 
miums, twenty  dollars.  ,  ^,     n 

For  furnishing  copies  of  papers  filed  m  the  oifice  of  the  Commis- 
sioner, twenty  cents   per  folio,  and   for  certifying  such  copies,  one 

Holl&iF 

For  valuation  of  life  policies,  three  cents  for  each  one  thousand 

dollars  of  insurance  valued.  . 

The  Commissioner  shall  annually  assess  upon  every  company  doing 
business  in  this  State,  any  excess  of  the  expenditures  of  his  office  over 
its  receipts  in  proportion  to  the  amount  of  premiums  received  and 
receivable  by  such  companies  respectively  in  this  State,  for  the  year 
ending  on  the  preceding  3 1st  day  of  December. 

Also  reciprocal  provision. 


CANADA. 


13 


od  of  two 
by  of  San 


insurance 
before  the 
ng  on  the 
me  for  one 
B  principal 

having  on 
[  $200,000 
ity  for  the 
I  statement 
assets,  but 
ited  States, 
tes  for  the 


Taxed. All  taxes  are  collected  under  a  reciprocal  provision  of 

statute. 

Penaltiett,  —  One  hundred  dollars  for  failing  to  file  statement 
or  stipulation  proscribed  by  law,  and  two  hundred  dollars  for  each 
month  any  company  ccjntinues  business  without  filing  such  statement. 
Five  hundred  dollars  for  failure  to  answer  fully  and  truthfully  in 
writing  the  written  inquiries  of  the  (Commissioner.  One  hundred  dol- 
liirs  for  issuing  a  life  policy  in  this  State  not  containing  written  evi. 
dence  that  it  is  so  issued. 

ASSESSMEKT    INSURANCE. 

Assessment  companies  are  not  subject  to  the  insurance  laws  of 
California,  and  are  not  under  the  jurisdiction  of  the  insurance  depart- 
ment. 


ancisco  are 
iblished  by 
agent  shall 
aa  follows : 
irs  or  over 
ig  business 
nd  less  than 
?hose  doing 
ty-five  thou- 
ness  to  any 
-five  dollars 


Slates  gold 


five  dollars. 

renewal  pre 

;he  Commis- 
copies,  one 

ne  thousand 

mpany  doing 
is  office  over 
received  and 
for  the  year 


CANADA. 

W.  Fitzgerald,  Superintendent  of  Inmranct,  Ottawa. 

Admission.  —  Every  company  desiring  to  transact  business  in 
the  Dominion  of  Canada  shall,  before  admission,  file  in  the  Department 

of  Finance —  .    . 

A  certified  copy  of  its  charter  or  articles  of  association. 

A  statement  of  the  condition  and  affairs  of  such  company  on  the 
3lBt  day  of  December  preceding,  or  up  to  the  usual  balancing  day  of 

the  company.  .     ,      .    a,  * 

A  power  of  attorney  from  the  company  to  its  head  officer  or  agent 
in  Canada,  under  the  seal  of  the  company,  and  signed  by  the  Presi- 
dent  and  Secretary  or  other  proper  officer,  verified  by  their  oath,  and 
further  corroborated  on  oath  by  such  officer  or  agent  or  some  person 
cognizant  of  the  facts  necessary  to  its  verification.     Such  power  of 
attorney  shall  declare  at  what  place  in  Canada  the  head  office  or  chief 
agency  of  such  company  is,  or  is  to  be  established,  — and  shall  ex- 
pressly authorize  such  attorney  to  receive  service  of  process  in  all  suits 
and  proceedings  against  such  company  in  any  Province  of  Canada,  in 
respect  of  any  liabilities  incurred  by  the  company  therein,  and  also  to 
receive  from  the  Minister*  and  the  Superintendent,  all  notices  which 
the  law  requires  to  be  given,  or  which  it  is  thought  advisable  to  give, 
_  and  shall  declare  that  service  of  process  for  or  m  respect  of  such 
liabilities,  and  receipt  of  such  notices,  at  such  office  or  chief  agency,  or 
personally  on  or  by  such  attorney  at  the  place  where  such  head  office 
or  chief  agency  is  established,  shall  be  legal  and  binding  on  the  com- 
pany to  all  inl'  Pis  and  purposes  whatsoever. 

Whenevt-  any  such  company  changes  its  chief  agent  or  chief 
agency  in  Canada,  such  company  shall  file  a  power  of  attorney,  as 
hereinbefore  mentioned,  containing  any  such  change  or  changes  in  such 

•  The  «xpre«8loii  "  Minister  "  In  this  act  me«nB  Minister  of  Finance  and  Receiver-General. 


u 


CANADA. 


respect,  and  containing  a  similar  declaration  as  to  the  servico  of  process 
ami  notices  as  hereinbefore  mentioned;  and  every  company  fihall.  at 
the  time  of  making  the  armiiul  statement  provided  for,  declare  that  no 
change  or  amendment  has  been  made  in  the  charier,  act  of  incorpora- 
tion or  articles  of  association  of  the  company,  and  that  no  change 
has  been  made  in  the  chief  agency  or  chief  ajjent,  without  such  amend- 
ment or  change  having  been  duly  notided  to  the  superintendent. 

Duplicates  of  all  such  documents,  duly  verified  as  aforesaid,  shall 
be  filed  in  the  office  of  one  of  the  Superior  Courts  in  the  Province  in 
which  the  head  office  or  chief  agency  of  the  company  is  situated  —  or 
if  the  chief  agency  is  in  the  Province  of  Quebec,  with  the  prothonotary 
of  the  Superior  Court  of  the  district  wherein  such  chief  agency  is 
established. 

(See  Deposits.) 

TAcenses,  —  Every  company,  before  transacting  business  in 
Canada,  shall  receive  from  the  Minister  a  license,  and  shall  give  notice 
thereof  by  publication  in  the  Canada  Qazctie  and  in  a  least  one  news- 
paper in  the  county,  city,  or  place  where  the  chief  agency  is  estab- 
lished, which  publication  shall  be  continued  for  four  weeks.  Licenses 
shall  expire  on  the  Slst  day  of  March,  in  each  year,  and  shall  be  re- 
newable from  year  to  year.  The  like  notice  shall  be  given,  for  the 
space  of  three  calendar  months,  when  a  company  ceases,  or  gives  no- 
tice that  it  intends  to  cease,  to  carry  on  business  in  Canada. 

lyepositH,  —  Every  fire  and  inland  marine  insurance  company 
shall  deposit  with  the  Minister  the  sum  of  one  hundred  thousand 
dollars  for  the  benefit  of  the  policy-holders  in  Canada.  Such  deposits 
may  be  made  by  companies  of  the  United  States,  in  the  United 
States  securities,  or  any  other  securities  approved  by  the  Treas- 
ury hoard. 

If  from  the  annual  statement,  or  by  the  examination  of  the  condi- 
tion of  any  company,  it  appears  that  its  re-insurance  fund  and  liabili- 
ties in  Canada  exceed  its  deposit  in  Canada,  then  the  company  shall 
bo  called  upon  at  once  to  make  good  the  deficiency,  and  upon  failure 
so  to  do  its  license  shall  be  canceled. 

Life  insurance  companies  are  required  to  deposit  fifty  thousand 
dollars  with  the  Minister  upon  admission  to  (io  business,  and  to  make 
additional  deposits  from  time  to  time  sufficient  to  equal  the  re-insurance 
roserve  upon  policies  in  force  in  Canada,  or  to  place  such  sura  in  the 
hands  of  trustees  in  Canada  for  the  benefit  of  policy-holders -resident 
therein,  under  a  trust  deed  to  be  approved  by  the  Minister  Reserve 
computed  by  actuaries'  table  with  interest  at  four  and  one-half  per 
cent. 

Fire  ami  Marine,—  Every  fire  and  inland  marine  insur- 
ance company  must  annually  file  with  the  Minister,  on  the  first  day  of 
January  or  within  two  months  thereafter,  under  oath  of  its  chief 
agent,  a  statement  of  the  condition  and  affairs  of  the  company  in 
Canada.  Such  company  must  also  file  a  statement  of  its  general  busi- 
ness in  such  form  and  to  such  date  as  it  may  be  required  by  law  to 
furnish  to  the  government  of   the  country  in  which  its  head  office 


UL 


1 


CANADA. 


16 


;o  of  process 
my  Hliall.  at 
ilaro  tliat  no 
f  incorpora- 
;  no  cliango 
such  amcnd- 
ndont. 

resaid,  shall 
Province  in 
tuated  —  or 
)rothonotary 
^f  agency  is 


business  in 
1  give  notice 
It  one  news- 
icy  is  estab- 
8.  Licenses 
shall  be  re- 
ven,  for  the 
Qr  gives  no- 
a, 

ice  company 

sd  thousand 

uch  deposits 

the  United 

the  Treaa- 

)f  the  condi- 
d  and  liabili- 
impany  shall 
upon  failure 

fty  thousand 
md  to  make 
1  re-insurance 
sum  in  the 
lers' resident 
er  Reserve 
one-half  per 


larine  lusur- 
le  first  day  of 
of  its  chief 
company  in 
general  busi- 
ed by  law  to 
.8  head  office 


is  situate.  No  lire  policy  shall  bo  issued  for  or  extend  over  a  longer 
period  than  three  years.  (jicense  issued  to  such  company  is  void 
whenever  written  notice  of  any  diHputod  claim,  arising  from  any  loss 
insured  against  in  Canada  remaining  unpaid  sixty  days  after  being 
due,  or  of  a  disputed  claim  after  final  judgment  is  served  on  the  Min- 
ister ;  but  such  license  may  bo  renewed  if  such  claims  be  paid  within 
sixty  days  thereafter.  Upon  failure  to  make  such  payment  any  such 
company  shall  be  deemed  insolvent. 

Life,  —  Every  company  shall  annually,  within  two  months  after 
the  first  day  of  January,  make  a  statement  of  '\\»  condition  and  aRuirH, 
verified  by  the  oath  of  the  president,  manager,  or  agent  of  such  com- 
pany, or  of  any  person  cognizant  of  the  facts.  Such  statement  to  be 
made  at  the  usual  balancing  day  of  the  company. 

License  to  be  withdrawn,  if  company  fails  to  pay  losses  within 
thirty  days  after  they  are  due,  or  after  final  judgment,  but  may  be 
renewed  at  discretion  of  Minister  if  the  law  is  complied  with,  within 
thirty  days. 

Jp'ees,  —  To  defray  the  expenses  of  the  oflBce  of  Superintendent  of 
Insurance,  an  assessment  shall  be  made  pro  rata  upon  the  gross  pre- 
miums received  by  each  company  during  the  preceding  year,  and 
paid  upon  the  31st  day  of  March  in  each  year,  but  the  amount  assessed 
on  fire  and  inland  companies  shall  not  exceed  eight  thousand  dollars. 

Life  policies  in  Canada  to  be  valued  every  five  years  by  Superin- 
tendent at  a  fee  of  three  cents  for  each  policy. 

J*enaltien,  —  Transacting  any  business  without  license  or  with- 
out filing  any  papers  required  by  law,  or  refusing  or  neglecting  to 
make  annual  statement,  subjects  the  company  or  person  so  violating 
the  law  to  a  penalty  of  five  hundred  dollars,  and  an  additional  penalty 
of  one  hundred  dollars  for  each  month's  neglect.  In  case  of  non-pay- 
ment of  such  penalty,  the  Minister  may  suspend  or  revoke  license. 

Agents  for  doing  business  for  unlicensed  companies  are  subject  to 
fine  of  not  more  than  fifty  dollars  and  costs  for  first  otiense,  and  im- 
prisonment for  second  offense. 

ASSESSMENT    INSURANCE. 

Adniissionm  —  Companies  must  be  licensed;  must  make  a  de- 
posit of  fifty  thousi^nd  dollars ;  must  pay  losses  in  full  :  cannot  use 
any  part  of  assesFor  mtz  for  losses  for  any  other  purpose  ;  must  print 
in  ink  of  a  differe-  ;  .  ilor  from  the  body  of  the  contract,  and  conspicu- 
ously, "This  association  is  not  required  by  law  to  maintain  the  reserve 
which  is  required  of  ordinary  life  insurance  companies."  Every  cer- 
tificate must  contain  a  promise  to  pay  the  whole  amount  therein  men- 
tioned, and  to  make  assessments  sufiGcie.it  to  pay  that  amount.  It 
must  also  contain  a  stipulation  that  action  may  be  brought  on  the  cer- 
tificate in  any  court  of  competent  jurisdiction  in  the  province  where 
the  policy-holder  resides.  The  words  "  assessment  system  "  must  be 
printed  in  large  type,  at  the  head  of  every  policy,  circular,  or 
advertisement. 

PenailtieSt  —  The  same  as  for  fire  and  life  insurance  companies. 


ul 


Ui 


1,6  COLORADO. 


COLORADO. 

(LeKUtalure  niecu  blennlHlly.    Next  Mitlon  Jan.  1,  18(11. 1 
Lewis  B    Schwanbeck,  Superintendent  of  Insurance,  Denvkk. 

AdmlMHioH,  —  Every  firo  and  life  insurance  company  dosir- 
inK  to  transact  buginoss  in  this  Stftto  must,  before  admission,  possess  a 
paid-up  capital  of  not  less  than  two  hundred  thousand  dollars  Com- 
panies other  than  fire  and  life,  not  loss  than  one  hundred  thouHand 
dollars.  Every  company  applying  far  admission  shall  file  m  the  offlco 
of  the  Superintendent  of  Insurance  a  duly  certified  copy  of  its  charter, 
articles  of  association,  or  deed  of  settlement,  with  a  statement  under 
oath  of  the  president  and  secretary  or  other  chief  oflicers,  siiowing  the 
condition  of  such  company  on  the  thirty-first  day  of  the  preceding 
December.  Companies  must  appoint  the  Superintendent  of  Insurance 
their  attorney  to  accept  service. 

CertlficateH  and  ^f/ewf«.  — Companies  are  required  to  pro- 
cure annually  for  the  use  of  agents  and  solicitors,  copies  of  certihcatos 
of  authority.  Certificates  to  be  revoked  if  company  is  found  unsound, 
and  may  publish  results  of  investigation. 

JE»aniinattonft.  —  The  Superintendent  is  authorized  to  make 
examinations  of  all  companies  licensed  to  do  business  in  the  SUite,  at 
any  time,  for  which  he  shall  charge  his  actual  expenses,  if  the  exam- 
ination is  conducted  by  him  personally,  and  if  by  any  one  appointed 
by  him,  not  to  exceed  ten  dollars  a  day  and  necessary  expenses,  to  be 
paid  by  the  company  examined.  For  valuing  life  policies,  ten  dollars 
for  each  million  of  insurance  valued. 

Fire  and  Marine.  —  Annual  statsments  must  be  filed  on  or 
before  the  first  of  March.  Publication  required.  The  re-insurancc 
fund  shall  bo  fifty  per  cent,  of  gross  premiums  on  all  risks  having  less 
than  one  year  to  run,  and  pro  rata  on  all  unexpired  risks  having  more 
than  one  year  to  run. 

Xjife, Annual  statements  must  be  filed  on  or  before  March  1st, 

The  legal  reserve  is  computed  by  actuaries'  experience  table  with  inter- 
est at  four  per  cent.,  valuing  net  premiums.  Paid-up  policies  must  be 
given  after  three  years.     Publication  required. 

Fees.  —  For  filing  charter,  tweriy-five  dollars  ;  if  capital  exceeds 
two  hundred  and  fifty  thousand  dollars,  ten  cents  for  each  additional 
thousand.  For  filing  power  of  attorney  and  preliminary  statement, 
fifty  dollars.  Annual  statement,  fifty  dollars.  For  certificate  of  au- 
thority, five  dollars,  and  each  copy  of  same  two  dollars.  For  copies  of 
papers,  twenty  cents  per  folio,  and  for  affixing  seal  and  certifying  any 
paper,  one  dollar.  For  each  copy  of  process,  two  dollars.  Two  per 
cent,  on  the  excess  of  premiums  over  losses  and  expenses  in  the  State 
each  year.  Superintendent  is  authorized  to  assess  for  any  deficiency 
in  case  these  fees  do  not  meet  the  expenses  of  his  office. 


CONNECTICUT. 


IT 


,  Dknvku. 

impany  di'sir- 
sion,  po.ssoss  a 
lollars  Com- 
irod  thouHand 
le  ill  the  office 
'  of  its  charter, 
Eitement  under 
•8,  allowing  the 
the  preceding 
it  of  Insurance 


pquired  to  pro- 
a  of  cortificatoa 
ound  unsound, 


orized  to  make 
n  the  State,  at 
I,  if  the  exam- 
one  appointed 
expenses,  to  be 
jiea,  ten  dollars 

It  be  filed  on  or 
le  re-insurancc 
isks  having  less 
ks  having  more 

fore  March  Ist, 
table  with  inter, 
policies  must  be 

capital  exceeds 
each  additional 
nary  statement, 
ertificate  of  au- 
B.  For  copies  of 
d  certifying  any 
illars.  Two  per 
nses  in  the  State 
>r  any  deficiency 

56. 


PenaltieH.—  For  failure  to  pay  fees,  revocation  of  license.  For 
refusal  to  answer,  or  for  making  false  answers  to  quostions  put  in  ex- 
amination, or  false  entries  in  books,  fine  or  imprisonment,  or  both. 

Any  person  who  directly  or  indinfctly  aids  in  the  transaction  of 
the  I'usinoss  of  insurance  by  an  unlicensed  company,  is  liable  to  a 
penalty  of  five  hundred  dollars  for  each  oflfenso. 

ASSESSMENT    INSURANCE. 

AdtnlHHlon.  —  Other  State  corporations  must  deposit  with  the 
Superintendent  certified  copy  of  charter  or  certificate  of  incorporation, 
and  with  the  Superintendent  a  statement,  under  oath  of  its  president 
and  secretary,  under  form  required  by  him,  of  its  business  for  the  pre- 
ceding year  ;  a  certificate  under  oath  of  its  president  and  secretary 
that  it  is  paying  and  has  been  paying  for  twelve  months,  the  amount 
named  in  its  certificates  in  full ;  a  certificate  that  like  companies  incor- 
porated  in  Colorado  are  permitted  to  do  business  in  its  home  State  ;  a 
copy  of  its  policy  or  certificate  and  application,  which  must  show  that 
benefits  are  provided  for  by  assessment. 

Annual  Sfatements.  —  Must  be  made  on  or  before  the  first 
of  March,  on  form  proscribed  by  Superintendent. 

Feeft  and  Penalties  and  ExanUnationa.—  '^^^^  same 
as  for  other  insurance  companies. 


CONNECTICUT. 

ILeglflature  meets  biennially.    Ncxt»cMloii  January,  1891.] 
0.  R.   Fyleu,  Insurance   Commissioner,  HartfokI). 

Adnilsttion.  —  Every  company  desiring  to  transact  business  in 
this  State,  before  admission,  must  possess  the  amount  of  capital  and 
invested  assets  hereinafter  mentioned,  and  must  file  with  the  Commis- 
sioner— 

A  certified  copy  of  its  charter  or  deed  of  settlement;  a  statement 
under  the  oath  of  the  President  or  Vice-President  and  Secretary  of 
the  company,  showing  the  condition  and  affairs  of  the  company.  Such 
company  shall  also  appoint  the  Insurance  Commissioner  its  attorney, 
upon  whom  ail  process  of  law  may  be  served,  and  file  with  the  Com- 
missioner  a  certificate  of  such  appointment. 

Certitlcatea  and  Agents.  — ^very  agent,  before  transacting 
any  business  of  insurance  for  any  company  in  this  State,  must  procure 
.  from  the  Commissioner  a  certificate  of  authority  stating  that  such  com- 
pany has  complied  with  the  requirements  of  law. 

Life  insurance  companies  and  foreign  companies  must  receive  a 
certificate  or  license  from  the  Commissioner  before  transacting  busi- 
ness in  this  State. 
3 


* 


18 


CONNECTICUT. 


All  rnrtiflcaum  and  licotiHO*  miwt  U'  rimnwo<l  iinniinlly  upon  llling 
tho  iiiimiul  HtttU-iiiont  of  tli«  ooii.pany,  hikI  all  CMrtillcaUm  to  companie* 
an.l  agoiiU  oxpiro  on  thti  (irnt  .lay  ot  U.o  Ai.ril  following  t\mr  ihsum. 

MUxanUnaUonH  and  Itmnni'mt'nti*.  —  '^'^^^'  CommiH. 
•ioner,  wlionovur  li«  d.ioinH  it  wxpetliont,  may  «xatnin«  into  thn  coniii- 
tion  anil  affairH  of  any  ciimpany  traimacting  biwinoHH  in  tlio  SUto.  Ho 
may.  if  li<>  <loonm  it  for  ;,li«  inlon-Ht  of  tli«  pul)li(\  publmli  tlio  result  of 
Huch'  oxainination  in  ono  or  uioro  iiowHpaporH  pul.li»liwl  in  lli"  Htate. 
Whcnovor  it  Hhall  ap|M!ar  from  any  hucIi  oxaiiiination  or  any  report 
that  tho  allairu  of  any  comi)any  are  in  an  iinHound  condition,  tho  Com- 
misHionor  Hhall  rovok«i  iho  cortillcaU'H  of  authority  or  hcc-nHOH  granted 
to  or  in  liohalf  of  mi.-li  company,  ami  cause  notice  ot  HUch  revocation 
to  bo  published  in  two  m)WHpuj)erH,  one  printed  in  Hartford,  and  tho 
other  in  New  Haven,  at  least  four  wooUb. 

Any  lire  or  marine  insurance  company  m  in  an  unsound  condition 
whenever  the  assets  of  such  company,  after  churging  it  with  its  proper 
liabilities  and  tho  amount  required  by  law  for  a  reinsurancio  fund, 
amount  to  less  than  three-fourths  of  its  capital  stock.  If  the  a»sotB  of 
any  life  insurance  company  are  not  f(pxal  to  its  liabilities  and  premium 
reserve,  ascertained  as  required  by  law,  such  company  is  in  an  unsound 
condition. 

Fire  and  Marine—  Every  stock  company  must  |K)9He88  a  cash 
capital  of  one  hundred  and  fifty  thousand  dollars,  paid-up  and  securely 
invested.  Every  mutual  company  must  possess  one  hundred  and  hfty 
thousand  dollars  in  cash  or  invested  in  available  a^-sets,  and  no  company 
can  be  admitted  unless  similar  companies  of  this  State  are  admitted  in 
such  other  State.  Annual  statements  shall  bn  filed  in  tho  month  of 
January  of  each  year,  and  shall  exhibit  the  cor;dition  of  the  company 
on  the  preceding  3l8t  day  of  December. 

The  reinsurance  fund  shall  bo  computed  at  fifty  per  centum  of  the 
gross  amount  of  premium  (less  return  premiums  and  re-insurance)  re- 
ceived on  all  fire  risks  in  force  not  perpetual;  ninety-five  per  centum 
of  promiumB  on  perpetual  risks  in  force;  one  hundred  per  centum  of 
the  amount  of  premiums  received  on  ocean  marine  risks  in  force. 

In  all  insurance  against  loss  by  fire,  tho  conditions  of  the  insurance 
shall  be  stated  in  the  body  of  the  policy,  and  no  condition  except  those 
BO  stated  shall  be  valid.  No  fire  insurance  company  doing  business  in 
this  State  shall  expose  itself  to  loss  upon  any  one  risk  or  hazard,  to  an 
amount  exceeding  ten  per  centum  of  its  paid-up  capital. 

2>f/e._  Annual  statements  shall  be  mod  on  or  before  the  Prst  day 
of  March  in  each  year,  showing  the  condition  of  the  company  on  tho 
preceding  3 1st  day  of  December.  u      •     «* 

Every  company  which  does  not  furnish  the  certificate  hereinafter 
mentioned  must  furnish  a  descriptive  list  of  all  its  outstanding  policies 
and  contracts  of  insurance.  Such  policieb  and  contracts  shall  be  an- 
nually valued  by  the  commissioner.  In  making  such  valuation  he  shall 
assume  the  rate  of  mortality  shown  by  the  Actuaries'  or  Combined 
Experience  Table,  with  compound  interest  at  four  per  cent.,  and  he 
shall  value  only  net  premiums.     The  Commissioner  shall  accept  a  cer- 


UiJ 


y  upon  fllin^ 
to  comiianum 
tlutir  iHHUt). 

'he  Corn  mis- 
to  th«i  coinii- 
lio  SUto.  He 
I  tlio  rosiilt  of 
in  thn  Htato. 
1)1-  an;'  report 
ion,  tlio  Coni- 
ciiHOH  granted 
oh  revocation 
,ford,  ami  the 

and  condition 
vitli  it8  proper 
Huranco  fund, 
f  the  a»HotB  of 
and  proinium 
in  an  unROund 

,  (KiHHeHS  a  cash 
p  and  securely 
id  rod  and  (ifty 
id  no  company 
tro  admitted  in 
the  month  of 
f  the  company 

centum  of  the 
(•insurance)  re- 
ve  per  centum 

per  centum  of 
8  in  force, 
f  the  insurance 
)n  except  those 
ing  business  in 
tr  hazard,  to  an 
I. 

ire  the  Hrst  day 
lompany  on  the 

;ate  hereinafter 
banding  policies 
lets  shall  be  an- 
iluation  he  shall 
b'  or  Combined 
If  cent.,  and  he 
all  accept  a  cer- 


CONNECTICUT. 


It 


tiflcate  of  valuation,  made  upon  the  standard  providwi  by  the  laws  of 
this  Htato,  from  tho  profwr  ofllcial  of  the  State  whom  thn  company  i« 
organized,  in  hi-u  of  making  such  valuation,  if  such  oflirial  will  accopt 
the  certillcato  of  valuation  of  the  CommiHsioPor  of  this  Htato  in  refer- 
ence to  companies  of  this  Htato  doing  businoBs  in  such  otlior  Htate. 

Tho  Commissioner  is  also  required  to  make  valuations  upon  tho 
basis  of  tho  .\m(irican  Kxjiorionco  Table  of  Mortahty,  with  iiitorost  at 
four  and  ono-half  jier  cent,  por  annum,  and  to  furnish  certificates  of 
such  valuation  to  be  fllod  in  other  States. 

No  life  insurance  company  doing  business  in  the  State  of  Connecti- 
cut shall  iiiiiko  or  permit  any  distinction  or  discrimination  in  favor  of 
individuf«.l8  between  iimurants  of  tho  same  chiss  and  expectations  of 
life  in  tho  amount  or  payment  of  premiums  or  rates  charged  for  poli- 
cies of  life  or  endowment  insurance,  or  in  tho  dividonils  or  other  bene- 
fits payalilo  thereon,  or  in  ajiy  other  of  the  terms  and  conditions  of  tho 
contracts  it  makes;  nor  shall  any  such  company  or  any  agent,  sub- 
agent,  broker,  or  any  other  {wrson,  make  any  contract  of  insurance  or 
ftgrocnient  as  to  such  contract,  other  than  as  plainly  expressed  in  the 
policy  issued  thereon  ;  nor  shall  any  such  company  or  agent,  aubagent, 
broker,  or  any  other  person,  pay  or  allow,  or  otTer  to  pay  or  allow,  as 
inducement  to  insurance,  any  rebate  of  premium  payable  on  the  policy, 
or  any  special  favor  or  advantage  in  tht»  clividonds  or  other  benefit  to 
accrue  thereon,  or  any  valuable  consideration  or  inducement  whatever 
not  f/pocified  in  the  contract  of  insurance. 

ForeiffU.  —  Every  foreign  insurance  company  doing  business  in 
this  State  must  jmsaess  a  cash  capital  of  more  than  two  hundred  thou- 
sand dollars,  and  must  deposit  with  the  Treasurer  of  this  State,  or  the 
local  public  officer  of  some  other  State  of  the  United  States,  not  less 
than  two  hundred  thousand  dollars  in  the  bonds  of  this  State,  of  the 
State  of  New  York  or  Massachusetts,  or  of  the  United  States,  to  be 
held  in  trust  for  the  benefit  and  security  of  the  policy-holders  of  such 
company  in  the  United  States.  A  certificate  showing  such  deposit, 
■under  the  hand  and  seal  of  the  officer  holding  tho  same,  shall  be  filed 
with  the  Commissioner.  Tho  capital  of  such  company  in  the  United 
States  is  the  aggregate  value  of  such  securities  as  such  company  shall 
have  on  deposit  with  the  officers  of  the  several  States  for  the  benefit  of 
its  policy  holders,  and  ail  the  other  assets  and  property  of  the  company 
in  the  United  States,  which  are  vested  in  and  held  by  trustees,  citi- 
zens of  tho  United  States  approved  by  the  Commissioner,  for  the 
general  benefit  and  security  of  all  policy-holders  and  creditors  of  the 
company  in  the  United  States,  after  deducting  from  the  aggregate 
value  of  such  deposits  and  of  such  assets  held  in  trust  all  the  liabilities 
of  the  company  in  the  United  States,  including  a  re-insurance  fund, 
computed  as  required  by  law.  A  copy  of  the  trust  deed,  and  of  the 
vote  of  the  board  of  directors  appointing  such  Trustees,  shall  be  filed 
with  the  Comniissionf 

Annual  statements  _-  the  affairs  of  such  company  in  the  United 
States  shall  be  filed  with  the  Commissioner  in  the  month  of  January 
in  each  year,  and  shall  contain,  in  detail,  the  items  constituting  the 
capital  of  the  company,  and  the  deductions  to  be  made  therefrom,  Bub^ 
scribed  and  verified  by  the  oath  of  the  agent  or  attorney  of  the  com- 


CONNECriCUT. 

pany  m  Iho  lJnlto.1  Stat«a.  The  Comiuisiionor  «hall  ammftlly  iwiK'  t«» 
«uch  ««.mpftny  »  (riirtiHciito  uliowing  the  amount  o(  \U  w)  <Uaorniin«»l 
capital. 

|>V,.^._ror  valuation  of  life  inauranoo  |X)Uciot,  thn  lamn  ralo  nit 
lmpoNo«l  on  Connecticut  companicH  in  tho  Htat«  whoro  auch  other  com- 
pani«)M  aro  l(M-at<)<l.  in  < 

Liconao  ton  .lollara,  «xc«pt  to  foroign  coinpanum,  tho  Uconao  ot 
which  in  fifty  dollars. 

Kiling  ciiarlor,  foreign  comi>anio»  thirty  ilollarH. 

Filing  Mtatotnent,  foreign  con»pani«f  twenty  dollarM.  Companiea  of 
other  HtaUw,  ten  dollara. 

Agenta'  cortificaNm,  two  ilollara. 

Reciprocal  provision. 

TrtitCK.— Kvory  agent  Hhall  make  a.  return,  under  oath,  annually, 
on  or  bi*foro  tho  Uuith  day  of  January,  lo  the  Coinniiiwionor,  of  tho 
groM  amount  of  premiums  collected  lht»  year  previous,  and  upon  re- 
ceiving from  the  Commiesioner  a  certilicate  of  the  acceptance  of  such 
return,  and  the  amount  of  tax  due  theroon,  under  the  provisions  of 
tho  rtwiprocal  law,  whall  [>Ay  tho  same  on  or  before  tho  20th  day  of 
January,  to  the  Insurance  Commisaioner. 

Agents  may  be  licensed  to  place  excessive  lines  m  >inauthori/,«d 
companies  on  payment  of  a  tax  of  four  per  cent. 

Agents  ot  companies  of  foreign  countries  shall,  on  such  gross  pre- 
miums so  returned,  pay,  on  or  before  tho  20th  day  of  January,  to  the 
Insurance  Commissioner,  a  tax  of  two  per  cent. 

PenaUU'H.—  Kvory  agent  of  any  fire  or  marine  conipany  trani- 
acting  business  in  violation  of  law  is  subject  to  a  penalty  of  not  less 
than  one  hundred,  and   not  more  than  one  thousand  dollars  for  each 

oflense.  v.      a  # 

Tho  agent  of  any  insurance  company  of  another  State,  or  oi  any 
foreign  government,  which  has  not  been  admitted  to  transact  business 
in  this  SUte,  shall  bo  personally  liable  upon  all  contracts  of  insurance 
made  by  or  through  him,  directly  or  indirectly,  for  or  in  behalf  of  any 
such  company. 

Kvery  officer  or  agent  of  any  life  insurance  company  transacting 
business  in  violation  of  law  shall  be  subject  to  a  fine  of  not  less  than 
one  hundred  dollars  nor  more  than  five  hundred  dollars  for  each 
offense.  Agents  are  subject  to  a  fine  of  from  one  hundred  to  five 
hundred  dollars  for  doin^  any  business  for  or  aiding  in  tho  transaction 
of  business  by  unauthorized  companies. 

A  penalty  of  five  hundred  dollars  for  giving  any  rebate  of  premium 
in  life  insurance  and  a  revocation  for  throe  years  of  agent's  certificate. 

No  fire  company  is  permitted  to  advertise  or  represent  any  funds 
or  assets  to  be  in  its  possession  not  actually  possessed  by  it,  or  sub- 
scribed capital  not  actually  paid  up  in  cssh,  and  all  such  advertise- 
ments and  statements  purporting  to  show  the  financial  condition  of  the 
company  shall  correspond  with  the  last  verified  statement  to  the  insur- 
ance department,  and  every  violation  of  this  provision  shall  be  pun- 
ished by  a  fine,  for  the  first  offense,  of  five  hundred  doUars,  and  every 
subsequent  offense,  one  thousand  dollars. 


Hit. 


DAKOTA. 


n 


tally  iiMU*  lO 
(ItitoriiiiMd 

Miiitt  mto  an 
:i  other  com* 

u  Ucoiiao  of 


7ompani(Ni  of 


ill,  aiiiuially, 
ionor,  of  the 
iml  upon  ro- 
uncu  o(  Hucb 
provisJoriB  of 
2Uth  day  of 

iinaiithorizad 

[;h  ><roB8  pre- 
nmiry,  to  the 

itnpany  trans* 
y  of  not  l«(B« 
illars  for  each 

,to,  or  of  any 

isact  buainesa 

of  insurance 

behalf  of  any 

ly  transacting 
not  less  than 
liars  for  each 
iindred  to  five 
;hu  transaction 

te  of  premium 
[It's  certificate, 
ent  any  funds 

by  it,  or  sub- 
lucn  advertise- 
sndition  of  the 
it  to  the  insur- 

shall  be  pun- 
lars,  and  every 


AHHRMMRNT    INNONANCR. 

.1  fl  ml  MM  Ion. —  iAtiHl  dfp<«it  wirh  thn  Innuratn«t  CornmlMinnitr  a 
curtided  cony  of  iU  Htattmuint  of  biiMiiu'MM  for  tlu'  yi'ftr  «uiiliiiK  tli« 
thlrlyHrnt  day  of  th«  pntntdin^  I)<M;ninh<  r,  ami  of  itn  fotiditioii  iit  that 
dat«\  with  a  fortiflcalii  sworn  to  by  the  pnMnliMii  and  wu-rotary,  snt- 
ting  forth  tiiiit  it  liaH  paid,  and  Iium  tho  abiliiv  n.  pay.  ittt  n<rti(lcat«ti  to 
tho  full  liiiiit  rianind  llu  niin  ;  that  it  dix-n  not.  imhuo  (■••itillcfttim  upon 
the  livtiH  of  iMiiHorm  tnor«i  than  nixty  fiv<^  yt-urM  olil;  that,  ilM  c«'rli(icat«w 
»ro  payable  only  to  l)un<i(lniari«>M  luivinK  u  U'nn\  inHuriibli-  int«)r««t  in 
tb«(  lif"  of  th«  inMured;  that  an  ortlinaiy  aiwoitunuint  in  »uf!lcitmt  to  pay 
itM  iniixiMuini  fdrlillcuto.  It  inUMt  aUo  furniith  a  (•«rtiJloat<i  from  the 
inHuranoi  olllcialu  of  ItM  own  Stato  nirtifyiiiK  that  it  irt  iK^ally  untitled 
to  do  businoHH.  and  that  liki)  corporatiouM  of  Connix-ticui  art*  loyally  on- 
titled  to  d(»  buHimmH  in  that  State.  It  niuHt  also  furninh  i'opi«ii  of  ita 
application  and  rortificato  forms,  and  of  its  «!onstitution  and  by-laws. 

FeeM,  PvnaltleM,  Etc. —  AsBttsHinoni  companies  are  subject  to 
all  tho  laws  n-^ardinn  lifo  insurance  comiianics,  except  that  requiring 
a  reserve.     Ilwiprocul  provision. 


DAKOTA.* 


ylr/m /«»/«/».— Ev^ryj"'"*  "'"^l*  company  apiilying  for  a<lmis- 
sion  to  transact  business  in  this  Territory  must  |m)hs»'hh  actual  cash  cap- 
ital to  the  amount  of  one  hundrwl  thousand  dollars.  No  requirements 
specially  (lied  regarding  assets  of  mutual  companies.  Every  company 
must  file  with  the  Auditor  a  copy  of  the  chart«!r  or  act  of  incorporation 
of  the  company,  a  sworn  statement  of  tho  financial  condition  of  the 
company  on  the  procetling  3 1st  day  of  December,  ^and  a  written 
instrument  under  seal  of  tho  corporation,  signed  by  its  president  and 
secretary,  appointing  in  each  judicial  district  in  which  it  does  business 
an  attorney  for  acceptance  of  service  of  process. 

CertlprateM  and  Aj/entM.—  T^vory  agent  must  be  supplied 
with  a  cortilicato  from  tlm  Auditor  before  doing  business.  Every 
company  shall  file  in  the  office  of  the  Register  of  Deeds  of  tho  county 
in  which  an  agency  is  establisheda  copy  of  the  statement  filed  with  the 
Auditor,  and  the  certificate  of  the  Auditor,  and  such  statement  and 
certificate  shall  be  published  for  at  least  three  times  in  a  newspaper  of 
general  circulation,  printed  and  published  in  each  judicial  district  of 
the  Territory  in  which  the  company  has  an  agency.  The  company  may 
choose  the  paper  from  one  of  three  selected  by  tho  Auditor.  Certifi- 
cates and  statement  procured  and  filed  as  above  annually  in  January. 

Fire  and  Life. —  Annual  Statements  must  be  filed  in  the  month 
of  January  in  each  year.  The  Auditor  may  require  additional  state- 
ments, and  make  examinations  whenever  ho  deems  it  expedient. 

•  Tl>»  l«(?1»toturei  of  North  DtkoU  «nd  South  D«kott  will  meet  In  JMu«nr.  North  D»kot» 
baa  Ml  tn«ur»nce  commlB.loner,  A.  L.  Carey,  HlHimrck,  and  In  South  Dakota  L.  C  Taylor, 
Auditor,  has  charge  of  Inoirance  matters.  The  terrUo»lHl  laws  Imve  not  been  changrd,  but  an 
•ffort  wiu  be  made  at  the  opeulng  of  tho  legUlatura  to  adopt  a  better  code  of  inourance  lawa. 


PRIiAWARR. 

t'oiU'iffn.—  Evtsry  p«m;«ny  must  prwum  *  t^nrtidflfctn  of  author- 
lly  from  Auditor,  Oomply  wUh  all  rnquirinrumtii  rtlmiriKto  Aniiricmi 
(;oiii|M»ni»'«  MtMli'innnU  iiiuiit  Ui  nwoin  lo  liy  nmni»K«'r  or  g^nwral 
agiiiit.     Hoimi  o(!l<«t  »ui«mniril  lo  \m  HNtl  iMiforo  Mny  \»i. 

fVr/«.— To  Amlitor  — 

For  flliriK  dooUrKtion  rikI  cbkfter,  tw«nty-ftv«  dolltn. 

For  lUitiK  annual  MtatmriAnt,  Urn  (lollara. 

For  «t«ch  coriKlcatu  of  nutliority  or  copy  th«iri'of  (only  on«  ImUvltl' 
ual  to  l»«  inclu(lo<l  in  ««»'!»  cortifli-ato),  two  tlollam. 

For  fopiut  of  papcnt,  twunty  <ont«  ptir  folio,  and  altlxinn  noal 
tbi'ntto,  ono  dollar. 

For  offli!ial  «!Xiiiniiiation  of  conipanitm'  actual  «x|H)naii«,  not  tixcnwd- 
ing  tell  ildllurM  |M>r  diom. 

For  making  copioa  of  aunual  lUttiuenl  for  publication,  on*  tlollar 

each. 

PcmiltifH. —  For  not  fUinK  wtatumont  roquiri'd,  ono  hundrud 
dollant  for  nach  wiu  k'n  dolay.  AgfntM  doing  husinisHS  for  companijii* 
which  havo  not  compliod  with  law,  (iv«  hundrod  doilarH  for  each  viol»- 
lion.     Finil)Bzzl«»u»nt  of  company  funda,  larcwny. 

Taj'f'M, Two  and   onohalf  \wt  c«mt.  of  th«  groan  prumiuma 

rocoivtid  in  th«  Torritorv  during  th«i  proceding  yoar,  to  bo  pai.l  Imforo 
ronowal  of  cortiflcato.     Ko  local  taxoa. 

Uo<n|)rocal  provision  for  taxea,  fooa,  ponaltioa,  and  dupoait*. 

AHHRHHMKNT    INHUHANCI. 

No  spocial  laws  for  th«  conduct  of  auMosBinont  coinpanifli. 


DELAWAPr 

(L<'Klil*tur«  iiiiieU  lilvniiUily.    N«xl  *n»Um  Jan.,  1N0I.I 
Isaac  N.  Fookh,   Insurance  (hmmmiontr,  Gkoimiktown. 

A«itnittHlon.  —  Every  company  doHiring  to  tranHact  businoas  in 
this  State  must  iwbbhhs  ono  hundrwl  ami  lifty  thousand  dollars  over  all 
li»biliti«s  and  claims;  or  if  a  mutual  firo  company,  ono  hundrod  bona 
/  «  appli<!ation8  for  insurance,  and  socufitios  to  tho  amount  of  twenty 
thouHand  dollars,  and  authority  to  transact  business  in  its  own  Stato  ; 
or,  if  a  plato-glaas  insurance  company,  one  hundred  thousand  dollars 
above  all  liabilities;  before  admission  nuist  file  with  the  Insurance  Com- 
missioner a  certified  copy  of  its  charter  or  declaration  of  organization, 
a  statement  of  its  condition  under  the  oath  of  its  president,  or  vice- 
president  and  secretary  ;  a  certificate  of  the  name  and  residence  of 
some  person  within  this  Stato  upon  whom  any  civil  procesa  may  be 
served.     Making  affidavit  to  a  statement  falsely  is  perjury. 

CertificnteH  and  AffentH.  —  F^wry  company  and  each  of  its 
agents  before  doing  business  in  this  SUto  must  procure  a  certificate 


yiiji 


DELAWAIIK 


n 


n  of  auihaiN 

lo  AuH'ririin 
ut  gvnuml 


on«  intiivitl- 
lifllxiriK  N«at 
,  not  «ix«!«wil- 
D,  out  doUftr 

)iio  hiiridrtd 
ir  com|>«n{fHi 
»r  each  viola- 


M  pramiuniM 
(I  paiil  Iwfuro 

loaits. 


ifli. 


ETOWN. 

ct  buBinMHH  in 
ollars  over  all 
[luiidrod  bona 
int  of  twenty 
ta  own  State ; 
)UHand  doilariD 
isiiranco  Com- 
'  organization, 
ident,  or  vice- 
I  residonco  of 
rocesfl  may  be 

knd  each  of  ita 
re  a  certificate 


from  till)  Iniurancff  (lommiMionor,  mich  curtiHoaUi  Mhall  not  h<i  inrttiMl 
to  any  agnnt  until  ho  IIUw  with  thu  Inmirancro  ComminHioniir  a  iltttiUrnto 
tax  ri«ci)t{)t,  Hhowin^  that  all  tnxv*  hnv*  Imhwi  paid,  nor  until  ho  ha* 
proriirwl  a  lic<'n>ut  from  tit<>  Clttrk  of  th«  l'i>iic-ii.     Kvitry  at(tint  niimt 

I)rocur«  a  limuiiui  from  tli«i  Clvrk  of  thu  IVai-o  in  tht«  I'rxinty  in  winch 
iia  officit  in  liH'iitiHl,  who  Nhall  b«>  untitlud  tu  fifty  conta  fur  iMiuing  tha 
■anta. 

Kj'HmhmtioiiMtimf  i nt fm t rni fit fM,—  'V\\t^ i'tmmiMiomr 
may  f>xaniin«  any  coiniiany  liom^  biiMiiti'MN  in  thix  Statx.  If  lin  llndii 
any  lifn  inMiiranrttcnmiHitiy  doin^  lniftinxHM  in  thin  Statn  Iikh  not  on  liand 
tint  n<<t  vniiK*  of  all  itN  |Mili<Mi>ii  in  fon-«,  hit  Hhall  piililiMh  tlio  fai-t  imd 
withdraw  tlm  nnthority  of  tim  company  to  do  l)U«tin<>MM  in  ihiM  Mlatu. 
In  caMo  of  iiiiv  otlitT  roinpany  having,;  rnpilal  itock,  if  ita  capital  mIimiIc 
aiicll  Imiciiiiio  utipturi<(l  to  iho  )>xt«iit  of  twonty  pur  cont ,  htt  Mhall  )fivt\ 
nnticM  to  Miirli  conipany  to  tiwikc  good  itrt  capital  Mtu^k  within  xixty 
(Inya,  and  if  thin  ih  not  doim  hit  Nhall  ivqniru  tlm  company  to  roaitii  to 
du  buaineM  in  thin  Statu. 

Fire,  Ma  vino,  and  /.//>.— Kvory  company  Hlmll  lllu  on  or 
Imforu  Kol).  Int  in  <wli  yuar  a  Htatuinunt  of  ita  condition  on  th«  proccding 
;<lNt  day  of  l)«<-i*mt)or.  Thit  (NnnmiHHionur  Mhall  ri><|uiro  all  lifn  com 
panicH  doing  biwincHH  in  thiit  Stato  to  I'limmh  him  tliv  ccrtilicatt'  of 
valuation  of  thu  Inaurance  Commiiwionur  of  nithnr  ronnaylvania, 
Nhw  York,  or  MaaHac.himnttd,  or  of  the  Statu  whoro  it  is  incor|)orat«d. 
If  tIm  company  Im  incorporatnd  in  any  oth«r  Statu  than  I'onnaylvania, 
Nmw  York,  or  MasMachumttt«,  ita  |W)licm«  nhall  bu  valued  on  thu  "  Nuw 
York  baHin."  If  thu  company  fail  to  furniNli  such  valuation  ho  ahall 
ruvoke  ita  cnrtiflcatu  of  authority  to  do  buainoiw.  Any  life  inaurance 
company  which  collecta  ita  premiums  for  inauranco  on  liven  in  weekly 
payrnunts  may  apply  to  thu  ('lurk  of  the  I'uaco  in  any  county  for  a 
proper  licunao  authorizing  and  um|K»wcring  such  company  to  ungagu  in 
and  carry  on  ita  buHimmN  in  thin  Statit,  and  upon  paymont  to  the  naid 
Clerk  of  the  Poacu  of  thu  sum  of  fifty  dollaia  and  also  tho  fee  to  the 
(*lork  of  thu  Puaco  for  isHuing  thu  licunms  it  shall  t>e  tho  duty  of  such 
Clurk  of  thu  Peace  to  Ibhiiu  to  it  a  proi^r  license  to  transact  buainuss  for 
onu  ynar  from  the  date  theruof.  Any  such  company,  aftur  receiving 
such  license,  and  othurwisu  complying  with  tho  insurance  laws  of  this 
State,  shall  be  authori.''«d  to  transact  its  business  in  the  State,  and  any 
agents  or  umployt^s  of  such  company  employed  to  solicit  applications 
foi'  insurance  and  collect  premiums,  shall  not  bo  required  to  pay  any 
other  license  fee  as  an  insurance  agent,  except  tho  feu  of  two  dollars  to 
the  insurance  commisaioner  for  tho  certificate  of  authority  of  said 
agent;  provided,  that  such  agent  or  employ6  is  not  engaged  in  solicit- 
ing or  transacting  businosa  within  the  State  for  any  other  foreign  fire 
or  life  insurance  company. 

Delaware  enacted  a  valued-policy  law  in  1889. 

Licennes  and  Fees.  —  Every  agent  must  pay  a  yearly  license 
of  fifty  dollars. 

There  shall  be  paid  to  the  Insurance  Commissioner  for  his  own 
use  — 


24 


DISTRICT  OP  COLUMBIA. 


ill 


For  filinc  charter,  ten  dollars. 

For  filing  annual  statement  or  printed  report,  ton  dollars. 

For  each  certificate  of  auttiority,  two  doUprs. 

For  every  copy  of  every  papor  filed  in  the  office,  tventy  cents  per 

folio.  ,  ,  ,, 

For  affixing  seal  and  certifying  such  copy,  one  aolian 
For  official  examinations,  the  actual  expensee  incurred. 

Taxes.  — Evory  agent,  at  the  time  of  obtaining  his  license  each 
year  shall  furnish  the  Clerk  of  the  Peace  a  statement  under  oath,  show- 
ing the  amount  of  premiums  received  and  assessments  collected  within 
the  State  during  the  year  preceding,  and  shall  pay  a  tax  of  two  and 
one-half  per  cent,  upon  the  amount  of  such  premiums  and  assessments. 

Unless  the  tax  thus  paid  shall  include  all  the  premiums  taken  on 
insurances  in  the  State,  the  company  must  make  a  supplemental  state- 
ment and  pay  to  one  of  the  Clerks  of  the  Peace  a  like  tax  upon  all 
premiums  received  bv  the  company  which  do  not  pass  through  the 
hands  of  a  licensed  agent. 

Penalties. —  'Peraons  violating  law  are  liable  to  a  fine  not 
exceeding  one  thousand  dollars,  or  imprisonment  not  exceeding  one 

year,  or  both.  .       ,  .    ^  ^       n  . 

Every  agent  neglecting  to  take  out  a  license  is  subject  to  a  hne  not 
exceeding  five  hundred  dollars,  or  imprisonment  not  exceeding  thirty 
days,  or  both. 

ASSESSMENT    INSURANCE. 

Assessment  companies  are  required  to  comply  with  all  the  laws  re- 
lating to  other  life  companies,  except  as  regards  reserves. 


DISTRICT  OF  COLUMBIA. 

Insurance  is  in  charge  of  Assessor's  office,  Washington,  Roger 

Williams,  Assessor.  .        -j  t»-  ^  •  *         * 

Fivery  insurance  company  doing  business  in  said  District  must 
transmit  to  the  Commissioners  of  the  District  a  statement  of  its  condi- 
tion and  business  for  the  year  ending  on  the  preceding  tnirty-fitHt  day 
of  December,  which  statement  shall  be  rendered  ■  on  the  first  day  of 
January  following  or  within  sixty  days  thereafter,  except  that  toreign 
companies  shall  transmit  their  statements  of  business  other  than  that 
done  in  the  United  States,  prior  to  the  following  first  day  of  July, 
which  statements  must  be  in  form  and  state  the  particulars  required  by 
the  blanks  prescribed  by  the  Commissioners;  and  the  Commissioners, 
or  any  two  of   them,  may  require  at  any  time  statements  from  any 
company  doing  business  within  the  District,  or  from  any  of  its  officers 
or  agents,  on  such  points  as  they  may  deem  necessary  and  proper  to 
elicit  a  full  exhibit  of  its  business  and  standing,  all  of  which  state- 
ments herein  required  must  be  verified  by  the  signatures  and  oaths  of 
the  president  or  vice-president,  or  the  secretary  or  actuary.     No  com- 
pany having  neglected  to  file  a  statement  required  .of  it  within  the 
time  and  manner  prescribed  shall  do  any  business,  after  notification  by 


ui.. 


^,Ui-.^v  i>-4ri'r**'.'" 


m^mmmmmfm^f*- 


FLORIDA. 


25 


irs. 

ity  cents  per 


license  each 
r  oath,  show- 
lected  within 
c  of  two  and 

asseasmonts. 
ras  taken  on 
siaental  state- 
tax  upon  all 

through  the 

;o  a  fine  not 
xceeding  one 

b  to  a  fine  not 
eeding  thirty 


11  the  laws  re- 


ngton,  Roger 

District  must 
it  of  its  condi- 
thirty-first  day 
;he  first  day  of 
5t  that  foreign 
ther  than  that 
5t  day  of  July, 
ars  required  by 
commissioners, 
ents  from  any 
y  of  its  officers 
r  and  proper  to 
)f  which  state- 
3s  and  oaths  of 
lary.     No  com- 
f  it  within  the 
:  notification  by 


the  Commissioners,  or  any  two  of  them,  while  such  neglect  continues: 
and  any  company  or  association  neglecting  to  make  and  transmit  any 
statement  required  shall  forfeit  one  hundred  dollars  for  each  day's 
neglect. 

Every  fire  insurance  company,  to  entitle  itself  to  the  written  au- 
thority by  this  act  required  to  transact  business  in  tjio  District,  shall 
have  assets  equal  to  its  liabilities,  including  a  reinsurance  reserve  lia- 
bility equal  to  fifty  per  centum  of  premiums  received  upon  one-year 
risk,  and  an  amount  proportitmed  to  the  unexpired  time  upon  all 
other  fire  risks.  Every  company  doing  an  inland  or  marine  business 
shall  have  assets  equal  to  its  liabilities,  inciluding  a  re-insuranco  reserve 
liability  equal  to  the  total  premiums  charged  upon  all  unexpired  inland 
or  marine  risks.  Every  life  insurance  company,  excepting  those 
organized  upon  the  plan  of  assossTiants  on  their  members,  shall  have 
assets  equal  to  its  liabilities,  including  a  reserve  liability  computed  upon 
the  basis  of  the  American  experience  table  of  mortality,  at  four  and 
one-half  per  centum  interest.  Before  issuing  any  written  authority  to 
an/  company  to  transact  business  in  the  District,  the  Commissioners, 
or  a  majority  of  them,  shall  satisfy  themselves  that  such  company  has 
complied  with  the  law ;  and  at  any  time  thereafter  they  shall  revoke 
such  authority  when  satisfied  that  such  comi^ciny  has  fallen  below  such 
requirements. 

No  insurance  company  organized  or  incorporated  under  the  laws 
of  any  of  the  United  States  nf  America,  or  of  any  foreign  State  or 
country,  shall  transact  the  business  of  insurance  in  any  of  its  branches 
within  the  District  of  Columbia,  until  such  company  shall  have  duly 
constituted  some  proper  pei-son  domiciled  in  the  District  their  agent 
and  attorney-in-fact  for  the  purpose  of  receiving  for  them  summonses, 
writs,  and  processes  issuing  out  of  any  court  having  any  jurisdiction 
in  said  District,  and  until  the  evidence  of  such  appointment  of  such 
agent  and  attorney-in-fact,  authenticated  in  a  manner  satisfactory  to 
the  Commissioners  of  the  District,  or  any  two  of  them,  shall  be  filed 
in  the  office  of  such  Commissioners. 

Any  insurance  company,  or  any  officer  or  agent  of  any  insurance 
company,  effecting  any  contract  of  insurance  in  behalf  of  such  com- 
pany when  the  written  authority  required  by  this  act  shall  not  have 
been  given  by  said  Commissioners,  or  after  such  authority  has  been 
revoked,  shall  be  subject  to  a  penalty  of  one  hundred  dollars  for  every 
offense,  to  be  recovered  by  due  process  in  the  courts  of  the  District. 
Policies  must  have  copy  of  the  application  attached. 


FLORIDA. 

[LeglBlatare  meets  blenlaliy.    Next  session,  April,  1891.] 
F.  J.  PoNA,  State  Treasurer,  Tallahassee. 

Admission, —  Every  company  desiring  to  transact  business  in 
this  State  must,  before  admission,  furnish  the  Stat-^  Treasurer  — 
A  copy  of  its  charter  or  act  of  incorporation. 
A  statement  under  the  oath  of  the  president,  or  vice-president  and 


26  FLORIDA. 

Becretary  of  the  company,  allowing  the  name,  location,  capital  stock, 
assets,  an.  i  liabilities  of  the  company  •      .ii„i,a 

A  written  agreement  under  the  .seal  of  the  company,  signed  by  Us 
president  and  secretary,  agreeing  that  service  of  P^ocoas  in  any  cml 
action  against  such  company  may  be  made  upon  any  agent  of  the  com- 
pany in  this  State,  and  authorizing  each  agent,  for  and  m  i.ohalf  of 
the  company,  to"  admit  service  of  process,  and  agreuing  that  service  of 
process  upon  any  agent  shall  be  as  valid  and  binding  upon  the  com- 
pany as  if  raaile  upon  the  president  or  secretary  thereof. 

Certtfteatea  and  vlf/cwi«. -Every  company,  before  trans- 
aciing  any^buleBs  in  this  fitate.  shall  procure  from  the  State  '  Veas- 
urer  a  certificate  of  authority,  which  shall  be  renewed  annually  m 

*°EverV  agent  shall  procure  a  license  for  each  company  represented 

^  If"ny  company  fails  to  pay  any  judgment  rendered  against  it  in 
this  State,  an  execution  having  been  issued  thereon  and  returned  un- 
satisfied,  the  Treasurer,  when  furnished  with  a  properly  certihed  copy 
of  the  record,  shall  forthwith  revoke  all  certificates  of  authority  and 
licenses  to  transact  business  in  this  State  granted  such  company,  and 
shall  publish  notice  of  such  revocation  in  a  newspaper  published  in 
Tallahassee  or  Jacksonville,  for  at  least  one  week.  Such  company 
shall  not  transact  any  further  business  in  the  State  until  such  judg- 
ment and  all  fees  and  expenses  are  paid. 

Examinations  and  Impairments.- ^  ''/'it-lnt 
the  Board  of  Insurance  Commissioners  to  examine  mto  the  affairs  ol 
any  company  doing  business  or  applying  t6  do  business  m  this  State, 
and  whenever  the  Treasurer  shall  deem  it  for  the  interest  of  the  pub- 
lic so  to  do  he  may  publish  the  result  of  such  examination  in  one  or 
more  newspapers  of  the  State.  Whenever  any  company  shdl  be 
found  upon  such  examination  to  be  in  an  unsound  condition,  the  Board 
of  Insurance  Commissioners  shall  revoke  the  certificate  of  authority 
granted  such  company,  and  shall  cause  notice  thereof  to  be  published 
in  some  newspaper  published  at  the  Capital. 

Mre  and  ilf<lH«e.- Every  company  must  possess  at  least 
one  hundred  and  fifty  thousand  dollars  in  value  invested  in  United 
States  or  State  bonds,  or  other  bankable  interest-bearing  stocks  of  tbe 
United  States.  Annual  statement  must  be  filed  in  the  month  of  Jan- 
uary in  each  year. 

T,iff,  —  Every  company  must  possess  one  hundred  thousand  dol- 
lars in  United  Statf.'S  or  State  bonds,  or  other  bankable  interest-bear- 
ine  stocks  of  the  United  States  at  their  market  value,  or  in  mortgages 
on  unincumbered  real  estate  worth  double  the  amount  loaned  thereon 

Annual  statement  must  be  filed  in  the  month  of  January  m  each 

year, 

Pees. For  filing  e^ch  statement  five  dollars. 

Licenses  for  agents,  ten  dollars  in  each  county. 


L 


T.- 


GEORGIA. 


27 


capital  stock, 

aignod  by  its 
1  irt  any  civil 
It  oC  the  corn- 
in  !)ohalf  of 
hat  service  of 
ipon  the  coni- 


beforo  trans- 

0  State  Treas- 

1  annually  in 

y  represented 

against  it  in 
1  returned  un- 
certified copy 
authority  and 
company,  and 
r  published  in 
>uch  company 
itil  such  judg- 


ig  the  duty  of 
)  the  affairs  of 
i  in  this  State, 
8t  of  the  pub- 
ition  in  one  or 
pany  shall  bo 
;ion,  the  Board 
e  of  authority 
0  be  published 

ossess  at  least 
sted  in  United 
V  stocks  of  the 
month  of  Jan- 


I  thousand  dol- 
3  interest-bear- 
r  in  mortgages 
oaned  thereon, 
anuary  in  each 


TaxeH,  —  An  annual  State  tax  of  two  hundred  dollars  is  required 
to  be  paid  by  each  company. 

Penalth'H, —  Kvery  company  willfully  making  a  falflc  return  or 
statement,  shall  be  liable  to  a  fine  not  less  than  five  hundred  nor  more 
than  five  thousand  dollars. 

Anv  [Mirson  violating  any  of  the  provisions  of  law  relating  to  insur- 
ance shall  bo  fined  not  e.xceeding  one  thousand  dollars,  or  imprisoned 
not  more  than  six  months,  or  both. 

ASBKS8MRNT    INHURANCK. 

The  above  requirements  are  applicable  to  assessment  companies. 


GEORGIA. 


[LegUlatiire  ni«eU  biouDialiy.    Next  teulon,  November,  1800.] 

W.    A.    WuKiHT,     Comptroller-general    and     Insurance     Commissioner, 

Atlanta. 

AflmlHMlon.  —  Every  company  desiring  to  transact  business  in 
this  State  shall,  before  admission,  file  with  the  Insurance  Commis- 
sioner — 

A  certified  copy  of  its  charter  or  act  of  incorporation  ;  a  statement 
under  oath,  showing  the  name  and  location  of  the  company,  and  its 
condition  on  the  .'Jlst  day  of  December  then  next  preceding. 

Certifirates  ami  Afientn.  —  Tho  Insurance  Commissioner 
shall  issue  to  all  companies  complying  with  the  provisions  of  law,  and 
to  all  agents  such  companies  may  appoint  and  commission,  certificates 
of  authortty  to  transact  business  in  this  State,  which  shall  be  renewed 
animally.  Every  agent,  before  transacting  business  in  this  State,  must 
procure  a  license. 

Fire,  Marine,  Life,  and  ^f?p/<few<.— Every  company 
must  possess  at  least  one  hundred  thousand  dollars,  invested  in  bonds 
and  stocks,  estimated  at  their  market  value,  or  in  mortgages  or  real 
estate,  worth  double  the  amount  for  which  the  same  is  mortgaged. 
Semi-annual  statements  showing  the  conditions  of  the  company  on  the 
.30th  of  June  and  the  3l8t  of  December,  of  each  year,  must  be  filed 
on  the  succeeding  first  days  of  July  and  January,  or  within  sixty  days 
thereafter,  and  must  publish  a  duplicate  thereof  in  a  newspaper  of 
general  circulation,  published  in  the  town  or  city  in  the  State  where 
the  agent  making  the  report  is  located.  The  above  statement  is  to  be 
made  to  the  Governor.  Annual  statements  must  be  made  to  the  Comp- 
troller-General on  the  Ist  day  of  January  in  each  year,  or  within  sixty 
days  thereafter. 

Re-Insurance  Reserves.  Reserves  for  fire  insurance  companies 
are  to  be  computed  at  fifty  per  cent,  of  premium  on  all  policies  having 


IMPI  |M^<WWWPM^I^ 


28 


GEORGIA. 


Life  Actuaries 


less  than  one  year  to  run;  pro  rata  on  all  othora. 
Table  and  four  pot  cent. 

DepoHttH.  —  LiFK-  All  lifo  and  accident  companies  of  other 
States  of  the  Union,  or  of  foreign  states,  must  show  that  tliey  have 
deposited  with  the  proper  officer  of  their  own  State,  or  of  this  State, 
not  less  than  one  hundred  thousand  dollars,  in  such  securities  as  he 
may  deem  equivalent  to  cash,  subject  to  his  order,  as  a  guarantee  fund 
for  the  security  of  pohcy-holders. 

FraE  AND  Mauine.  Must  deposit  with  the  Treasurer  of  this  State 
bonds  of  this  State  or  of  the  United  States,  of  the  face  value  of 
twenty-five  thousand  dollars,  before  receiving  license  of  the  Comp- 
troller-General. 

Fee»» Filing  charter  or  certificate  of  no  change  or  amendment 

since  last  report,  twenty  dollars. 

For  filing  each  statement  of  the  company,  twenty  dollars. 

For  certificates  to  8.gents,  three  dollars.  Also  reciprocal  provis- 
ion in  reference  to  fees. 

Taxes. —  Every  company,  and  the  agents  of  every  foreign  com- 
pany, must  make  a  written  return,  under  the  oath  of  the  presiding 
officer  of  the  company,  or  such  agent,  to  the  Comptroller-General,  for 
the  year  ending  on  the  30th  of  April,  showing  the  total  amount  of 
premiums  received  in  the  State  by  agencies,  and  must  pay,  on  or  before 
the  first  day  of  July  in  each  year,  a  tax  of  one  per  cent,  thereon. 
Each  agent  shall  also  pay  a  tax  of  ten  dollars  in  each  county  in  which 
such  agent  does  business.  Special,  general,  and  traveling  agents  pay 
fifty  dollars  for  the  State  at  large. 

Penalties.  —  All  persons  convicted  of  violating  any  of  the  pro- 
visions of  law  relating  to  insurance  shall  be  fined  not  less  than  one 
hundred  dollars,  nor  moro  than  one  thousand  dollars. 

For  default  in  payment  of  taxes,  five  hundred  dollars,  and  impris- 
onment not  to  exceed  six  months. 


ASSESSMENT    INSURANCE. 

Adtnisslon.  —  Assessment  companies  must  file  copy  of  charter, 
or  articles  of  incorporation;  a  statement  of  its  business  and  condition 
for  the  year  ending  the  preceding  31st  of  December;  a  certificate 
sworn  to  by  the  president  and  secretary  that  it  has  paid  and  has  the 
abihty  to  pay  its  certificates  to  the  full  limit  named  therein;  that  they 
are  only  payable  to  beneficiaries  having  an  insurable  interest;  that  an 
ordinary  assessment  will  pay  a  full  loss;  a  certificate  from  the  proper 
officers  of  its  home  State  that  it  is  legally  entitled  to  do  business 
there;  a  copy  of  its  application,  and  of  its  constitution  and  by-laws. 

It  must  also  execute  a  power  of  attorney  authorizing  some  resident 
of  this  State  to  accept  service  of  process. 


L_ 


ILLINOIS. 


29 


fe  Actuaries 


ies  of  other 
it  thoy  have 
f  this  State, 
urities  as  he 
Eirantee  fund 


of  this  State 
aco  value  of 
;    the  Comp- 


Agents*  —  Licenses  must  be  taken  out,  and  must  be  renewed 
annually.  Any  one  who  receives  or  transmits  an  application  other 
than  his  own  is  deemed  an  agent. 

Annual  StatementH  must  bo  made  on  or  before  the  first  of 
March  of  business  of  year  ending  preceding  December  thirty-first. 

Jt^eeH,  —  Same  as  required  of  all  other  companies. 

l*en(llt,iefi,  —  F^or  transacting  business  without  license,  not  loss 
than  fifty,  nor  move  than  one  hundred  dollars  for  each  offense. 

Taxes,  —  One  per  cent,  on  the  gross  amount  received  on  busi- 
ness done  in  the  State.  Returns  to  be  made  by  companies  on  or 
before  July  first  for  the  year  ending  April  30th. 


r  amendment 

lars. 

irocal  provis- 


foreign  com- 
the 'presiding 
'-Oenerai,  for 
»1  amount  of 
,  on  or  before 
lent,  thereon, 
inty  in  which 
ig  agents  pay 


ny  of  the  pro- 
less  than  one 

J,  and  impris- 


•py  of  charter, 
and  condition 
a  certificate 
i  and  has  the 
ein;  that  they 
^rest;  that  an 
om  the  proper 
o  do  business 
ad  by-laws, 
some  resident 


ILLINOIS. 

[L«gltl»tarc  moetft  blennally.    Next  souion,  .Tanuary  7,  ISQl.] 
Chas.   W.  Pavey,  Auditor  of  Public  Accounts,  Springfield. 

Adniissiont  —  Every  company  desiring  to  transact  business  in 
this  State  before  admission  must  file  with  the  Auditor  of  Public 
Accounts  — 

A  written  application  for  a  license  to  do  business  in  this  State, 
signed  by  its  president  and  secretary,  with  its  corporate  seal  attached, 
which  statement  shall  contain  the  following  declaration:  That  it 
desires  to  transact  the  business  of  insurance  in  this  State;  that  it  will 
accept  a  Hcense  therefor,  according  to  the  laws  of  this  State;  that  said 
license  shall  cease  and  terminate  in  case  and  whenever  it  shall  remove, 
or  make  application  to  remove,  into  any  United  States  court  any 
action  or  proceeding  commenced  in  any  of  the  State  courts  of  this 
State  upon  any  claim  or  cause  of  action  arising  out  of  any  business 
transaction,  in  fact,  done  in  this  State ;  any  permission,  consent,  ai^ree- 
ment,  condition,  or  provision  incorporated  in  any  contract,  mortgage, 
note,  bond,  obligation,  or  policy  of  insurance,  authorizing  or  consent- 
ing to  such  removal,  to  the  contrary  notwithstanding. 

And  must  also  file — 

A  certified  copy  of  its  charter  or  deed  of  settlement. 

A  statement  under  the  oath  of  the  president  or  vice-president,  or 
other  chief  officer  and  secretary  of  the  company,  showing  the  name 
and  location  of  the  company,  the  amount  of  its  capital,  and  its  assets 
and  liabilities  in  detail. 

A  copy  of  the  last  annual  report,  if  any,  made  under  the  law  of 
the  State,  by  which  such  company  was  incorporated.  Such  company 
shall  appomt  an  attorney  in  this  State  on  whom  process  of  law  can  be 
served,  and  file  in  the  office  of  the  Auditor  a  written  instrument,  duly 
signed  and  sealed,  certifying  such  appointment,  which  shall  continue 
until  another  attorney  shall  be  substituted. 


Jl 


80 


ILLINOIS. 


Cvt'tlftvati-H  ami  Jf/r/lY^.  —  Bv^ry  company  muHl,  prmrure 
from  \.\w  AiKiitur  of  TuhlKt  AccoiintH  a  corlilicuU'  or  licotiao  bofuio 
doing  l>u8im«H  in  ili*'  Stnto.  ,  •      . 

Evory  iigont,  buforo  triuiHacting  any  businoHs  in  this  htaU>.  niuHt 
procurt)  fioin  the  Auditor  a  curtilicalo  of  authority,  showing  tlmt  tlio 
coMMmny  for  which  ho  iictH  has  complied  with  all  tho  rociuironicntB  of 
law,  and  stating  tiio  naino  of  the  attorney  appointed  to  act  for  such 
company,  which  corlincate  whall  l)u  nmowod  annually.  Every  agent 
of  a  lire  or  marine  insurance  compauy,  in  all  advertiHenients  of  Huch 
agency,  sliall  puhliwli  the  location  of  tho  company,  giving  the  naine  of 
the  city,  town,  or  village  in  which  tho  company  i»  located,  and  tho 
State  or  government  under  tiie  laws  of  which  it  iw  organized.  Every 
agent  of  a  lif(!  insurance  company  shall  exhibit,  in  conspicuous  letters, 
on  tho  sign  designating  his  j.lace  of  business,  the  name  of  the  State 
under  whoso  authority  the  company  is  incorporated,  and  shall  print 
the  name  of  said  State  in  large  typo  upon  all  policies  issued  in  this 
State,  and  on  all  placards,  [)ainphlets,  and  circulars  published,  issued, 
or  circulated  in  this  State  relating  to  tho  business  of  such  company. 

KramhtutloitH  and  tmpalruientH.  —  \i  is  the  duty  of 
the  Auditor,  whenciver  ho  deems  it  expedient,  to  examine  into  the 
allairs  of  any  company  transacting  business  in  this  State.  Whenever 
he  shall  d<!em  it  for  tlie  best  interest  of  the  public,  ho  shall  publish  the 
result  of  such  examination  in  one  or  more  papers  in  this  SUte.  If  it 
shall  appear  from  such  examination  that  tiie  affairs  of  any  company 
are  in  an  unsound  condition,  tho  Auditor  shall  revoke  the  certificates 
granted  in  behalf  of  such  company,  and  cause  notice  of  such  reyoca- 
tion  to  be  published  in  a  newspaper  of  general  circulation  published 
in  the  city  of  Springfield,  and  mail  a  copy  thonjof  to  each  agent  of  tho 

company.  .         ■     ^t  •    a*  *      p 

No  fire  or  marine  company  can  transact  business  in  this  State  it 
its  capital  is  impaired  to  tho  extent  of  twenty  per  cent,  while  such  im- 
pairment shall  exist.  Life  companies  must  possess  assets  «qual  to 
their  outstanding  liabilities  and  premium  reserve,  computed  as  required 

Every  company  making  any  false  statement  or  report  shall  have 
its  certificates  revoked  and  the  fact  published.  Every  company  trans- 
ferring a  cause  to  the  United  States  court  shall  also  have  its  certificates 
revoked. 

Mre  and  JUfnWwe.  — Every  joint  stock  fire  and  marine  com- 
pany doing  business  in  the  State  must  possess  a  paid-up  cash  capital  of 
not  less  than  one  hundred  thousand  dollars.  Annual  statements  inust 
be  filed  on  the  first  day  of  January  in  each  year,  or  withm  thirty  days 
thereafter,  showing  the  condition  of  the  company  on  the  preceding 
3l8t  day  of  December.  The  Auditor  shall  cause  such  annual  statements 
to  be  published  in  two  daily  newspapers  of  general  circulatior  not  less 
than  fifteen  "".ays.  One  of  said  newspapers  shall  be  published  in  Chi- 
cago  and  the  other  in  Springfield.  The  re-insurance  fund  is  computed 
at  the  gross  amount  of  unearned  premiums  on  unexpired  risks. 

Companies  doing  busir<  ■  in  this  State  are  not  permitted  to  assume 
any  one  risk  greater  than  -on  per  cent,  of  their  paid-up  capital. 


ILLINOIS. 


81 


i8l.  prmiure 
mm  before 

■>taU),  iMUitt 
iig  that  tho 
irniiu'iitH  of 
ct  for  Huch 
ivory  a^ont 
IltH  of  Hiich 
,ht'  naino  of 
wl,  and  tho 
oil.  Bvory 
10U8  lottors, 
if  tho  State 
1  aliall  print 
sued  in  this 
ihod,  issued, 
company. 

the  duty  of 
ine  into  the 
Whenever 
publish  the 
Stote.  If  it 
ny  company 
n  cortificates 
such  revoca- 
)n  publislied 
agent  of  the 

this  State  if 
•ilo  such  im- 
ets  aqual  to 
I  as  required 

■t  shall  have 
Tipany  trans- 
ts  certificates 


marine  com- 
ish  capital  of 
omenta  must 
a  thirty  daya 
he  preceding 
al  statements 
fttion  not  less 
ished  in  Chi- 
i  is  computed 
.  risks. 

tod  to  assume 
apital. 


I 


Every  advertiscinont,  public  iinn<)un('('iiumt,  sifrn,  circulaf,  or  card 
liereufter  issued  by  any  conqiany  or  its  agents  authorized  to  trannnot 
lire  insurance  ImsinesH  in  this  State,  pur|iorting  to  show  the  financial 
condition  of  tlie  conipiiny,  sliall  exhibit  the  amount  of  capital  actually 
paid  in  cash,  und  not  surplus  us  allowed  by  the  Auditor  of  I'ublic 
Accounts  of  Illinois  over  all  liabilities,  and  shall  show  its  conditions, 
as  exhibited  in  its  last  preceding  statement  to  the  insurance  depart- 
ment of  this  State,  and  shall  not  claim  or  state  any  funds  or  assets  to 
be  in  possession  of  such  company  not  actually  possessed  by  it. 

Platv  (rffisH,  Stt'diH  Jioifrr,  and  JfiMccffatH'otiH 
CinnpaitlvH. —  ThoNo  companies  are  subjciit  to  the  Haine  laws  which 
control  fire,  nuirinc,  and  inland  insurance  companies,  but  are  required 
to  have  only  one  hundred  thousand  dollars  cai)ital  actually  paid  up, 
and  must  deposit  with  tho  State  Treasurer  of  this  State,  or  the  proper 
officer  of  the  State  whore  tho  company  is  organized,  securities  duly 
a.ssigned  in  trust  for  tho  benefit  of  its  policy-holders,  tho  market  valiio 
of  which  sliall,  at  all  times,  bo  equal  to  one  hundred  thousanrl  dollars. 

Life, —  Every  life  insurance  company  doing  business  in  this  State 
must  possess  actual  assets  to  the  amount  of  at  least  one  hundred  thou- 
sand dollars,  properly  invested.  Annual  statements  must  bo  filed  on 
or  before  tho  first  day  of  March  in  each  year,  showing  the  standing 
and  affairs  of  the  company  on  tho  preceding  3 1st  day  of  December. 
The  Auditor,  for  good  and  sufficient  reasons,  may  extend  the  time  for 
filing  such  statements.  The  Auditor  shall  cause  such  statements  to  bo 
published  in  two  daily  newspapers  of  general  circulation  not  less  than 
one  month.  One  of  said  newspapers  shall  bo  published  in  Chicago, 
and  tho  other  in  Springfield. 

If  any  company  shall  transact  business  in  this  State,  and  its  out- 
standing policies  are  not  valued  by  the  insurance  department  or  proper 
officers  of  any  other  State,  the  Auditor  shall  make  a  valuation  of  tho 
policies  of  such  company.  The  basis  of  such  valuation  shall  b(!  tho 
Actuaries'  or  Combined  Experience  Table  of  Mortality,  with  interest 
at  four  per  centum  por  annum. 

Fofelfjfh. —  Every  foreign  company  shall  either  file  with  tho 
Auditor  a  certificate  from  the  Superintendent  of  tho  Insurance  Depart- 
ment of  some  other  State,  showing  that  a  deposit  of  securities  to  the 
amount  of  two  hundred  thousand  dollars  has  been  made  by  such  coin- 
l)any  in  that  State,  for  tho  protection  of  all  its  policy-holders  in  the 
United  States,  which  certificates  shall  be  renewed  annually,  or  such 
company  shall  deposit  with  the  Auditor  securities  to  the  amount  of 
two  hundred  thousand  dollars  for  tho  general  benefit  and  security  of 
policy-holders  residing  in  the  United  States.  Annual  statements  must 
be  filed  on  the  first  day  of  January  in  each  year,  or  within  thirty  days 
thereafter,  showing  the  condition  and  affairs  of  the  company  on  the 
preceding  Slst  day  of  December.  The  filing  of  home  oflice  state- 
ments is  discretionary,  but  unless  such  statements  are  filed  the  adver- 
tising of  foreign  assets  is  prohibited.  Such  homo  oflBce  statements 
must  bear  the  saniO  date  as  the  statement  of  business  in  tho  United 
States.  Special  de^msits  made  in  any  State  for  the  exclusive  benefit 
of  the  insured  in  such  State  are  not  to  bo  counted  as  assets. 


sa 


ILLINOIS. 


United  Biav\  Brunch  annual  HlttUttn.mU,  diilv  verifiod  by  the  resi- 
(lont  rnaniiK'J'",  Hhowinn  tho  invimtmontH  and  rondition  of  the  company 
in  tho  UniU)d  HtatoH  on  tho  procodmg  3l8t  day  of  Ducotnlior,  Mhall  \m 
fliml  on  tiio  firMt  day  in  January  in  oacli  y«ar,  or  within  thirty  dayi 
thoniaftor.  Foreign  lifo  companitis  ahall  f^lo  ihoir  annual  Htatoinonti 
on  or  boforo  the  llrst  day  of  April  in  ()a<;li  year,  showing  their  con.ll- 
tion  on  tho  preceding  3l8t  day  of  Docoinbor. 

Accident. —  Every  accident  insurance  company  must  powosn  a 
paid-up  capital  of  at  leaHt  one  hundred  tliou«and  dollarg,  dejmited  in 
itH  own  State  or  in  this  State,  to  enable  it  to  do  businow  in  the  State. 
Annual  statements  must  be  filed  on  or  before  tho  first  of  March  in  each 
year.  A  reinsurance  reserve  of  fifty  [tor  cent,  of  the  gross  [)rernium8 
on  all  outstanding  policies  must  be  ma-ntained,  and  no  company  is 
allowed  to  do  business  where  its  capital  is  unpaid  to  tho  «)xtent  of 
twenty-five  per  cent,  thereof.  Every  agent  must  procure  a  certificate  of 
authority  from  tho  A  uditor  stating  that  such  company  has  complied  with 
all  tho  laws  of  tho  State  relating  to  such  companies,  which  shall  continue 
in  force  until  tho  first  day  of  March  next  after  its  issuo,  unless  revoked 
for  cause.  Tho  penalty  for  making  insurance  in  violation  of  tho  laws 
of  the  State  regulating  accident  life  insurance  companies  is  tho  forfeit- 
ure for  each  offense  of  a  sum  not  exceeding  one  thousand  dollars.  It 
is  the  duty  of  the  Auditor  to  make  an  examination  of  any  company 
doing  business  in  this  State  whenever  he  shall  doom  it  expedient,  and 
the  •)xp«m8e8  incurred  are  to  be  paid  by  tho  company  examined. 

Every  compaaiy  must  in  entering  appoint  an  attorney  for  service 
in  the  State,  and  must  file  a  written  application  for  license  stipulating- 
not  to  remove  suits  from  State  to  federal  courts. 

FeeH.—-  For  filing  certified  copy  of  charter  or  deed  of  tettlement, 
thirty  dollars. 

For  filing  annual  statement,  ten  dollars. 

For  each  agent's  certificate  of  authority,  two  dollars. 

For  copies  of  papers  on  file  in  tho  office  of  the  Auditor,  per  folio, 
twenty  cents,  and  for  affixing  the  official  seal  to  such  copy  and  certify- 
ing the  same,  one  dollar. 

For  valuation  of  lifo  policies,  three  cents  for  each  one  thousand 
dollars  of  insurance  valued. 

For  examinations,  the  actual  expenses  incurred. 

Also  a  reciprocal  provision  in  reference  to  foes,  greater  than  those 
herein  given. 

Taxes  —  Every  agent  of  any  fire  or  marine  company  shall 
annually,  in  the  month  of  May,  return  to  the  proper  officer  of  the 
county,  town,  or  municipality  in  which  his  office  is  located,  the  amount 
of  his  net  receipts  as  such  agent  for  the  preceding  year,  which  shall 
be  entered  upon  the  tax  lists  of  such  town,  county,  or  municipality, 
and  be  subject  to  the  same  rate  of  taxation  —  State,  county,  town,  and 
municipal  —  for  all  purposes  as  personal  property  is  subject  to.  at  the 
place  where  such  agency  is  located.  Such  tax  is  m  lieu  of  ftU  town 
and  municipal  licenses,  except  that  cities  having  an  organized  fire 
department  may  levy  a  tax  or  license  fee,  not  exceeding  two  per  cent. 


I 


ILLINOIS. 


38 


by  the  resi- 
le company 
Kir,  Hhnll  bo 
thirty  dayH 
Hl.utuiiiuntH 
their  comii- 


Ht    poKROM   a 

lofKiHitod  in 
in  the  State, 
arch  in  each 
iS  [)remiuni8 
company  is 
e  extent  of 
certificate  of 
t)mpliecl  with 
liali  continue 
ilesB  revolted 
I  of  the  laws 
a  the  forfeit- 
1  dollars.  It 
iny  company 
;pedient,  and 
lined. 

y  for  service 
e  stipulating 

>f  ■ettlement, 


or,  per  folio, 
f  and  certify- 

one  thousand 


it  than  those 

)mpany  shall 
officer  of  the 
1,  the  amount 
:,  which  shall 
municipality, 
ty,  town,  and 
ject  to,  at  the 
1  of  all  town 
jrganized  fire 
two  per  cent. 


ii|M)»  the  j^n.MS  premiuiii  receipts  of  any  mucIi  compiiny  in  Huch  city, 
to  b«>  applied  oxclimivfly  to  the  HUp|H)rt  of  the  (ire  dep»irlin<<ht. 

AIko  a  ruciprocnl  proviHii>n  in  reterunce  tu  laxeu  greater  than  thuite 
impoMed  by  the  laws  of  tliiti  State. 

l*vnalth'H, —  Kvery  (ire  or  marine  com|)any  failinji  to  file  Htate- 
meiit  AH  ri'ijuired  by  law,  or  to  luirtwer  any  iiupiiry  maile  by  the 
Auditor,  Hliali  be  siibji-ct  to  a  penalty  of  five  hundred  dollars,  and  an 
additioniil  penalty  of  five  hundred  dolIarB  for  every  month  such  com- 
pany xlinll  continue  thereafter  to  tranHiict  bu8nii>HH  in  thitt  State. 

Any  violation  of  any  of  the  provisionfi  of  the  laws  relating  to  insur- 
ance shall  subject  the  offender  to  a  penalty  of  five  hundred  dollars  for 
such  otT(;nHe. 

Every  life  rotiipany  negl(!Cting  to  file  a  statement  within  the  time 
prescrilwMl  by  law  mIiuII  be  subject  to  a  line  of  one  hundred  dollars 
each  day  such  neglect  continues. 

ASSKBSMKNT    INSIIKANOIC. 

ylr/w* /««/«/*.— Assessment  companies  applying  for  admission 
must  deposit  with  the  Auditor  a  certified  copy  of  its  charter  or  articles 
of  incorporation,  a  co[)y  of  its  HtateniMiit  of  business  for  the  preceding 
year,  sworn  to  by  its  president  and  seiiietary,  or  like  ollicers,  showing 
a  «letaile<l  account  of  exjHUiscs  and  income,  the  amount  of  life  idem- 
nity  in  force,  its  assets  and  lialiilities  in  detail,  number  of  members, 
and  a  certificate  sworn  to  by  the  president  and  secretary,  or  like  ofTi 
cers,  setting  forth  that  an  ordinary  assessment  upon  its  members  is 
BuflRciont  to  pay  its  maximum  certificate  of  membership  to  the  full 
limit  named  therein  ;  a  certificate  from  the  State  official  charged  with 
the  enforcement  of  the  insurance  laws,  or,  if  there  Ixi  no  such  official, 
a  certificate  from  the  Attorney-General  of  its  homo  State  certifying 
that  corporations,  associations,  or  societies,  furnishing  life  idemnity 
on  the  assessment  plan,  and  whose  ordinary  assessments  are  aafficient 
to  pay  its  maximum  certificate  in  full,  and  are  chartered  umlerthe  laws 
of  this  State,  are  legally  entitled  to  do  business  in  its  home  State;  a 
copy  of  its  policy  or  certificate  of  iiiemborship,  application,  and  by- 
laws, which  must  show  that  death  losses  are  in  the  main  provided  for 
by  assessments  upon  the  surviving  members  ;  and  it  shall  legally  desig- 
nate a  person  or  agent  residing  in  this  State  to  receive  service  of 
process  for  said  corporation,  or,  in  default  of  such  designation,  that 
service  of  process  may  be  made  upon  the  Auditor  of  Public  Accounts 
of  Illinois,  who  shall  be  deemed  its  agent  for  that  purpose.  By  a 
reciprocal  provision  companies  and  agents  are  also  subjected  to  the 
same  obligations  imposed  by  the  laws  of  their  own  States. 

JiJuraminafionH. —  The  Auditor  has  authority  to  examine  com- 
panies, and  if  found  unsound  or  fraudulent  shall  report  to  the  Attor- 
ney-General, who  shall  commence  proceedings  to  revoke  its  license. 

Fees. —  The  Auditor  shall  receive  a  fee  of  twenty-five  dollars  for 
licensing  each  company. 
5 


34 


INDIANA. 


i'ennltU'M,—  For  «JuinK  biwin.tM  for  uimuthoitodi  companioa  a 
fliHMif  not  inoro  iliaii  ..m-  ihoiiiwii.l  dolUni,  or  impH»onm«iit  for  n«)t 
nior«  than  ono  year,  or  Indh. 


INDIANA. 


[L<-Rl»lalur(  inarU  bUiiiilally     Naxt  Muflon,  J*nii*ry,  tWl) 

Uhuck  (;am«,  Auditor  of  StuU,  Indianai'olih. 

AtltniHHlon. —  Kvury  compftiiy  doBirinj?  to  transact  himinoM  in 
tluH.stttto  imirtt,  Imforii  udinisHioii.  posHOHH  at  loaul  two  hun<lr»fd  thou. 
Hand  dollat-H,  a<anal  capital,  invoBt«><l  in  tho  stocks  or  bomln  of  the 
United  HtatoB  or  of  tho  various  StaU'8,  or  in  bonds  socurod  by  mort- 
gages of  unincunilHJted  roal  tsstato  worth  doublo  tho  amount  of  such 
mortgiigo.     Such  company  shall  also  Hit)  with  tho  Auditor — 

A   cortiflod  copy  of  tho   act  of   incorporation  or  charter  of   such 

company.  ,  ^, 

A  Htalomont,  under  tho  oath  of  tho  president  or  secretary  of  the 
company,  showing  tho  name,  location,  capital  stock,  and  condition  of 
the  company. 

A  written  instrument,  under  tho  seal  of  tho  company,  signed  by 
the  president  and  secretary,  authorizing  any  agent  of  tho  company  to 
acknowledge  service  of  process  for  and  in  behalf  of  tho  company,  and 
consenting  that  service  of  process  upon  such  agent  shall  be  token  and 
held  to  be  as  valid  as  if  ^-rved  upon  tho  ompany,  according  to  tho 
laws  of  this  or  any  other  State,  and  waiving  all  claim  of  error  by 
reason  of  such  service;  also  that,  if  at  any  time  the  company  shall  have 
no  agent  in  the  county,  that  service  may  bo  made  upon  tho  Auditor 
of  State. 

CeHftieates  and  J f/cn^s.— Every  agent,  Iwf ore  transacting 
business,  shall  procure  from  the  Auditor  a  certificate  of  authority, 
which  shall  be  renewed  semi  annually  upon  filing  with  tho  Auditor  the 
semi-annual  statement,  m  required  by  law.  Tho  agents  shall  file  such 
certificate,  together  with  a  cortiflod  copy  of  the  statement  on  which  it 
was  obtained,  with  the  Clerk  of  the  Circuit  Court  of  the  county  in 
which  such  agency  is  established,  who  shall  prosorve  the  same  for 
public  inspection.  [It  has  been  held  that  an  agent  can  only  do  busi- 
ness  in  counties  where  certificate  and  copy  of  statement  have  been 
filed.]  If  any  company  shall  sustain  any  loss  upon  policies  issued  in 
this  State,  it  is  the  duty  of  the  agent  by  whom  the  insurance  wa«  made 
to  retain  in  his  hands  all  moneys  belonging  to  such  company  which 
may  then  bo  or  thereafter  come  into  his  possession,  until  such  loss  is 
adjusted  and  paid.  The  insured  who  has  suffered  a  loss  may  also 
notify  any  other  agent  of  such  company  thereof,  who  shall  in  like 
manner  retain  all  money  belonging  to  such  company  which  is  then  in 
or  shall  thereafter  come  into  his  hands.  If  suit  be  commenced  by  the 
party  insured  against  the  company,  the  agent  may  deposit  in  court 


I 


INDIANA. 


M 


liitpaitii!)*  a 
iitt  fur  not 


luainoM  in 
(lr«d  thou. 
hIh  of  tlio 
il  by  niort- 
lilt  of  auoh 

or  of  such 

lUiiy  of  the 
onditioit  of 

■,  Rignud  by 
•ompany  to 
npauy,  and 
I  ttikuii  and 
ding  to  tho 
of  error  by 
yHball  have 
ho  Auditor 


transacting 
f  authority, 
Auditor  the 
all  fde  Buch 
on  which  it 
0  county  in 
10  Bamo  for 
niy  do  busi- 
,  have  been 
ieB  issued  in 
;e  WB8  made 
ipany  which 
such  lo83  is 
)B8  may  also 
hall  in  like 
h  is  then  in 
meed  by  the 
iit  in  court 


tlouble  the  amount  mentionoil  in  thn  policy,  to  nbido  th«<  ovont  of  tbt 
Nuitj  or  if  the  party  iimurnd  Hhall  mil  roniriwiirn  HUit  within  iiinttV 
daya  after  the  agent  Mhatl  have  given  written  notice  to  him  that  atlOD 
loM  will  not  he  paid,  the  agent  may  th<*reaft«*r  |Niy  ovar  th«  money  in 
hia  hand*  to  the  comiiaiiy. 

Flret  Marlnf,  find  /^//f.--Sut«'mi«nta  nhall  be  Hied  with 
tho  Auditor  Hemiannuaily.  in  the  monthn  of  January  ami  July,  and 
the  Auditor  ahall  cauMi  a  copy  of  Huch  lutmiannual  Mtatoinent  to  be 
mibliahed  in  the  two  leading  liaily  nnwapaiwni  of  the  Htate  having  the 
largeHt  gnnora!  circulation. 

No  inauraiice  company  Hhall  insert  any  condition  in  any  |Kilicy 
hereafter  iNHued  requiring  the  iuHured  to  give  notice  forthwith,  or 
within  a  period  of  time  Iohh  than  live  days,  of  the  Iohh  of  the  iuHured 
property;  nor  ahall  any  condition  be  inxerted  in  auoh  policy  requiring 
the  insured  to  procim)  the  certificat«f  of  tho  nearest  Justice  of  the 
{xiaco,  mayor,  judge,  clergyman,  or  other  t)fli(Mal  or  person,  of  such  loss, 
or  tho  amount  of  such  loss;  and  any  provinion  or  condition  contrary  to 
the  provisiona  of  thia  section,  or  any  condition  in  said  [xilicy,  inserted 
to  avoid  the  provisions  of  thia  aection,  rhall  bo  void,  and  no  condition 
or  agreement  not  to  aue  for  a  {wriod  leas  than  three  years,  shall  Iw 
valid. 

F^ovetffn. —  Foreign  comtianies  must  itossoss  one  hundred  thou- 
sand dollars  held  within  the  Ifnited  States  by  a  citi/en  or  citizena 
thereof  as  iho  agent  or  agents,  trustee  or  trusti'tw  of  such  company, 
for  the  protection  and  benefit  of  its  policy-hoKUirs  within  tho  United 
States. 

PeeH, —  For  examination  of  statoinenta  and  investigation  of  ovi- 
dences  of  investment,  five  doUura. 

F\)r  a<!cepting  service  as  attorney,  three  dollars,  and  for  filing  copy 
of  same,  five  dollars. 

For  each  certificate  of  authority,  two  dollars. 

To  Clerk  of  Court  for  filing  certificate  and  statement,  fifty  cents. 

To  the  Auditor  all  expenses  actually  incurred  in 'the  examination 
of  any  insurance  company. 
Reciprocal  provision. 

Taxes, —  Plvery  company  shall,  in  tho  months  of  January  and  July 
in  each  year,  report  to  tho  Auditor,  under  tho  oath  of  its  firosident 
and  secretary,  tho  gross  amount  of  premiums  received  in  the  State  for 
the  six  months  procediuf^,  ending  on  tho  last  days  of  December  and 
June  in  each  year,  and  shall,  at  tho  same  time,  pay  the  State  Treasurer 
the  sum  of  three  dollars  for  every  one  hundred  dollars  of  such  pre- 
miums, less  losses  actually  paid  within  the  State. 

PenaltleH, —  Any  person  violating  the  provisions  of  law  relating 
to  insurance  shall  bo  fined  not  u.<ceedin>r  ono  thousand  dollars,  or 
imprisoned  in  the  county  jail  not  more  than  thirty  days,  or  both. 
Any  company  neglecting  for  more  than  thirty  days  to  render  an 
account  of  its  premiums  received  and  pay  tho  tax  thereon,  as  required 
by  law,  shall  forfeit  one  hundred  dollars  for  each  additional  day  such 
report  and  payment  shall  be  delayed. 


16 


IOWA. 

AMIMMURNT    INatlNANrl. 


Ailntltntton.—  f^ny  comtwny  of  oihor  Hut.' mul  f.ir»iKii  g«>v.»rn- 
in«'nl  ««okinK  .i.liiiiMi<>ii  iiuui  .l..|>..>.il  with  lli.«  Audit-.r  of  Hut.t  u  r«r- 
tirtml  oopy  of  lU  .httrutr  or  iirli.'h-  of  iricorponaioii  ;  it  copy  of  iU 
■UUm«nt  of  »m«iiirt«ii  for  ili"  pn-c-lmn  y-nr,  wiiti  i\w  imm.m  anU 
n»tidonc.i  of  iu  offlcMW.  nworti  to  by  tlm  pnwi.loiit  uml  noorntary,  or 
llkii  ofUfHr*.  nhowing  »  .l«t.»il.«a  nccoimt  of  oxjm.hwhi  aikI  incoinjj,  Uio 
ftrnouiit  of  iimurwi.-..  in  fore...  itn  imat*  »n.l  Imhihtlu*  lt»  .l«Uil.  and 
•uttinir  forth  that  it  hiw  ihfl  ability  to  pay  itn  |Kihci..«  or  oLrtllUraiHii  to 
thM  full  limit  nainoil  th.'n'iu,  a  o-rlillonti'  from  tho  InmiriuicM  (  oin- 
miMloiier  or  from  a  jii.lK.-or  clork  of  a  court  of  n-cor-l  of  it«  liotnn 
8tat«)  rurtifyiiiK  lliat  coriHiralionn  or  n^o.-iatioHn  iiiHiiniiK  lif«  on  the 
»M.ni».in.-nr  pini.,  a.ul   puyii.K   poli.Mcm  in  full  or   pruvi.linn  m-n.l.mt. 
indomniii.'*  aii.l  rh»rl«r.Ml  uml.T  Ml-  iaw«  of  thm  Statu  hri»  htnally 
•Oiiti.ul  to  do  buHiti.-HH  in  itK  homo  Stat..;  a  copy  of  itM  policy  or  cnrti- 
floato  of  m«iii».or»hip.  ttp(.licallon,  and  by  Inw^  which  immt  nhow  that 
death  h)HW«  arc,  in  the  main,  t.rovidcl   for  by  .laHoHHinetit  upon  tho 
•urvivinir  incintM.iH;  and  it  Hhali  U-Kiilly  d.'«iKnafo  a  pomon.  agent,  or 
attorney  in  fact  n.mdii.K  m  thin  Htato,  upon  whom  fcrvicc  of  prm!c«« 
for  aaid  company  or  iwHociation  may   Iw  made,  and   in  default  of 
■uch  dwiKnation,  norvicc  of  r.roc.-HB  may  be  iiind.-  niioii  the  Auditor  of 
State  of  thiH  Htatc,  who  «ha(l  b.*  dcomcl  iti  »K«nt  for  that  pirpoae, 
and  h«  Hhall  iinmediiitely  notify  any  corporation  f)r  aatociation  thua 
■orvod. 

AnnunI  Statements  mutt  bo  mailo  and  llled  previom  ♦« 
AugUHl  thirty-flmt. 

|,Vv'N.—  ^'or  admiHHion,  twentyflvc  dolIafH. 

H'or  Hling  annual  8tatcrncat«,  ten  dollarH.     Thia  act  do««  not  apply 
to  Becret  or  fratnrnal  nocifltie*. 
Itociprocal  provision. 


IOWA. 

ll^gJpUmre  meeU  blentiUlly.    Nvit  •osnloii,  January,  IHOO  ] 
Jamm  a.  Lyons,  Auditor  of  Stale,  DkhMoinkb. 

AdnilHHiotl.  —  Rvory  company  desirinpc  to  transact  buHinoHB  in 
this  State,  before  admission,  must  file  with  the  Amlitor  — 

A  certified  copy  of  its  charter  or  ;!  -ed  of  sottlenient. 

A  statement,  under  oath  of  the  presidnnt.  vicepresidfmt,  or  other 
chief  officer  and  secretary  of  the  company,  giving  the  name,  location, 
and  capital  stock  of  the  company,  and  showing  its  condition. 

A  copy  of  the  last  annual  report,  if  any,  made  by  a  fire  or  marine 
company  under  the  laws  of  the  State  by  which  such  company  was 

incorporated.  .         .  »  j   i 

Fire  and  marine  companies  shall  also  file  a  written  instrument,  duly 
signed  and  sealed,  authorizing  any  agent  of  the  company  to  acknowl- 


IOWA 


IT 


lutit  u  ('i<r- 
'Dpy  of  it* 
miiiim  ftitil 
cri*tary,  or 
ncoiiitf,  tlifl 
•lutAil,  Anil 
■tilli^atim  to 
lUiCM  (!uin- 
r  itN  lii>tit«t 
lifu  on   the 
H  u{'<'i<l<<iit 
hri«  loyally 
cy  or  rnrti- 
I  nhow  that 
t  it|)()U  tho 
II,  »K«'rit,  or 
I  of  jtriKrims 
(ixfiiult  of 
Auditor  of 
III  |)<rj)OB«, 
siation  thiiH 

pr«!vioiiR  to 


w  not  apply 


8. 


t  buHinc8a  in 


»nt,  or  other 

ino,  location, 

on. 

ro  or  marine 

ompany  was 

Tument,  duly 
to  Acknowl- 


I'dMti  NiTviri'  <,(  |iriM'i>itH  for  and  in  tiohaif  of  iho  <'<i)ii|Hiny,  and  cunitont- 
int{  (hut  M«<rvi)'i<  of  pr<M?i>iM  ii|him  any  mihIi  n({t>nt  Nhiill  li«>  trtkcti  himI  hi*ld 
to  !)«<  valid,  an  if  Mttrvod  upon  thn  loiiipuiiy,  and  wnivinK  all  <  luiin  or 
right  of  ttrror  Ity  niaMori  of  Hindi  •K^ktiuwlt'ilf^nitiiit  or  luirvictt. 

Iiifit  i:oin|wiiii-ii  ahall  a|i|M)iiii  an  ntloriniy,  nr  aKmit,  on  whom  pro' 
<i<MM  of  law  can  ho  mirvtid,  in  i>ai-h  couniy  in  which  thu  company  ha* 
an  af{iincy,  and  lilt)  with  tho  Auditor  a  copy  of  micli  curtillcatn  of  ap- 
poiutinttnt.  Hindi  »p|K)intin<Mit  nthuli  continue  in  fortu)  until  another 
attornay  Ini  nubMtitutnd. 

Any  fortiign  or  othnr  HtatM  corporation  midmI  or  impli<ad<>d  in  any 
of  thu  courts  of  thirt  Statu  upon  any  i!ontractM  iniidn  or  uxticuli'd  in 
thifl  Statu  or  to  Ut  purforincti  in  thin  .Statu  or  for  any  net  or  otniMMion, 
|iiililic  (*r  privikt<>.  iiriMiii),;,  origiiiatiiiK,  or  liiipi  ciiiiik  in  thu  Statu,  who 
mIkJI  rt'tnovn  any  niicIi  catmu  from  niii  h  .Statu  court  into  any  of  thu 
fu(h>ral  courtH  held  or  Hitting  in  tlim  Statu,  for  thu  iiuimo  that  MUidi  cor- 
poration in  a  noiiruMidunt  of  tliiM  .Statu  or  a  ruNidunt  of  anothur  Htato 
limn  that  of  thu  advurKu  party,  or  of  local  prujudicu  against  niich  cor- 
jioration,  mIiiiII  thuiuiipon  forfuit  and  ruiidcr  null  and  void  any  {KMinit 
iMHUud  or  authority  granted  to  audi  corporation  to  tramiact  hutinuHa  in 
tliia  State. 

Cfrtl/iraffH  ami  Af/entn. —  Rvory  company  doing  a  (Iru  or 
marinu  huMinu«H  in  this  .Statu  Hhall  prociiro  from  thu  Auditor,  and  pub- 
Imh  annually  in  two  ncwspapura  of  goiiuial  circulation,  oriu  of  which 
hIihII  bu  imbliHliod  at  thu  capital,  a  cortiticatu  showing  that  Much  com- 
pany ban  in  all  re»iM?ctM  complied  with  tho  laws  of  thu  Statu  relating 
to  insurance,  and  containing  a  Htutument,  iuub>r  thu  oath  of  the  presi- 
dent or  secretary  of  Hindi  company,  stating  thu  actual  amount  of  paid- 
up  capital,  thu  aggrugatu  amount  of  asHcts  and  liabilities  at  the  date 
of  such  certificate,  toguthur  with  the  aggn-gate  income  and  ox|iutidi- 
turo  of  Hixdi  company  for  thu  year  preceding 

Every  company  tloinga  life  businesH  shall  procure  from  the  Auditor 
a  certillcato  annually,  which  shall  be  recorded  in  the  office  of  the  re- 
corder of  the  county  in  which  the  principal  ollice  of  tho  company  is 
located  in  this  State. 

Every  agent  of  a  fire  or  marine  company  shall  annually  procure 
from  the  Auditor  a  certificate  of  authority. 

Every  agent  of  a  life  com[!any  shall  annually  procure  from  tlie 
Auditor  a  certifii^ate  of  authority,  and  a  certified  copy  of  such  certifi- 
cate shall  be  filed  in  the  county  recorder's  office  of  tho  county  where 
thu  ollice  of  the  ag'^nt  is  located,  and  the  gttnoral  agent  shiill  procure 
from  the  Auditor,  and  furnish  to  eacdi  local  or  traveling  agent  a  certi- 
fied c->py  of  the  corti'^jate  of  authority  issued  to  the  company. 

Every  agent,  in  all  advertisements  of  his  agency,  shall  publisli  the 
location  of  the  company,  giving  the  name  of  the  city,  town,  or  village 
in  which  the  company  is  located,  and  tho  State  or  govornniont  under 
the  laws  of  wliich  it  is  organized. 

EjramfuatlouH  and  Itnpah'mentH. —  The  Auilitor  may 
examine  the  affairs  and  condition  of  any  company  doing  business  in 
this  State,  and  may,  whenever  he  deems  it  for  the  b(>flt  interests,  of  the 
public,  publish  the  result  of  such  examination  in  one  or  more  papers 
in  this  State. 


i 


88 


IOWA. 


If  it  shall  appear  from  Huch  examination  that  the  affairs  of  any 
company  doing  Uro  or  marine  insurance  business  in  this  State  are  in 
an  unsound  condition,  the  Auditor  shall  revoke  the  certificate  granted 
in  behalf  of  such  company,  and  cause  notice  of  such  revocation  to  be 
published  in  some  newspaper  of  general  circulation  published  at  Des 

Moines.  .      .        ,        .        „  .        ,  „„„ 

If  it  shall  appear  from  such  examination  that  the  affair^  ot  any 
company  doing  a  liio  insurance  business  are  in  an  unsound  condition, 
or  that  proceeding  further  with  its  business  will  be  hazardous  to  the 
public  or  its  poHcy-hol.lers,  he  shall  communicate  the  facts  to  the  Attor- 
ney-General, who  shall  at  once  apply  to  a  judge  of  the  Supreme  or 
District  Court  to  issue  an  injunction  restraining  such  company  from 
transacting  further  business  in  this  State.  ,  •    o*  *    •*  -t 

No  fire  or  marine  company  can  transact  business  in  this  btateif  as 
capital  is  impaired  to  the  extent  of  twenty  per  cent,  thereof,  while  such 
deficiency  continues.  ,.    „         .... 

No  life  company  can  transact  business  in  this  State  if  its  assets  are 
not  equal  to  its  liabilities,  including  its  premium  reserve,  computed  as 
required  by  law. 

Fire  and  Marine.— 'S'^Q^y  company  must  possess  an  actual 
paid-up  capital  of  two  hundred  thousand  dollars,  exclusive  of  any  assets 
deposited  in  any  State  or  Territory  for  the  special  benefit  or  security 
of  the  insured  therein,  but  any  mutual  company  iiaving  two  hundred 
thousand  dollars,  over  and  above  all  liabilities,  including  the  re-insur- 
ance  reserve,  shall  be  deemed  possessed  of  two  hundred  thousand 
dollars  of  actual  paid-up  capital.  Annual  statements  shall  be  hied  on 
the  first  day  of  January  of  each  year,  or  within  thirty  days  thereafter, 
showing  tlie  condition  and  affairs  of  the  company  on  the  preceding 
31st  day  of  December. 

The  reinsurance  fund  is  computed  at  forty  per  cent,  of  the  pre- 
miums received  on  all  unexpired  risks. 

No  company  shall  expose  itself  to  loss  on  any  one  risk  or  hazard  to 
an  amount  exceeding  ten  per  cent,  of  its  paid-up  capital,  unless  the 
excess  shall  be  re-insured  in  some  other  good  and  reliable  company. 

Every  company  shall  submit  the  form  of  its  policy  contracts  to  the 
Auditor,  who  shall  see  that  they  provide  for  the  cancellation  of  the 
same  upon  equitable  terms. 

False  statements,  advertisements,  etc.,  are  prohibited. 
All  insurance  companies  or  associations  shall,  upon  the  issue  or 
renewal  of  any  policy,  attach  to  such  policy  or  indorse  thereon  a  true 
copy  of  any  application  or  representations  of  the  assured  which,  by 
the  terms  of  such  policy,  are  made  a  part  thereof,  or  of  the  contract 
of  insurance,  or  referred  to  therein,  or  which  may  m  any  manner 
affect  the  validity  of  such  policy.  The  omission  so  to  do  shall  not 
render  the  policy  invalid,  but  if  any  company  or  absociation  neglects 
to  comply  with  the  requirements  of  this  section,  it  shall  forever  be 
precluded  from  pleading,  alleging,  or  proving  such  application  or 
representations,  or  any  part  thereof,  or  falsity  thereof,  or  any  parts 
thereof,  in  any  action  upon  such  policy;  and  the  plaintiff  in  any  such 
action  shall  not  be  required,  in  order  to  recover  against  such  company 


IOWA. 


89 


lire  of  any 
tate  are  in 
ite  granted 
ation  to  be 
ihed  at  Dea 

airD  of  any 
I  condition, 
dous  to  the 

0  the  Attor- 
!5uprome  or 
ipany  from 

s  State  if  its 
:,  while  such 

ts  assets  are 
computed  as 

!S8  an  actual 
of  any  assets 
t  or  security 
;wo  hundred 
the  re-insur- 
)d  thousand 

1  be  filed  on 
's  thereafter, 
le  preceding 

of  the  pre- 

or  hazard  to 
il,  unless  the 
1  company, 
itracts  to  the 
lation  of  the 


the  issue  or 

lereon  a  true 

ed  which,  by 

the  contract 

any  manner 

do  shall  not 

ttion  neglects 

A\  forever  be 

ipplication  or 

or  any  parts 

T  in  any  such 

mch  company 


or  associatU'n,  either  to  plead  or  prove  such  application  or  representa- 
tions, but  may  do  so  at  his  option. 

In  any  suit  or  action  brought  in  any  court  in  this  8tate  on  any 
policy  of  insurance  against  the  company  or  association  issuing  the 
policy  sued  upon,  in  case  of  the  loss  of  any  building  so  insured,  the 
amount  stated  in  the  policy  shall  be  received  as  //rn/ia  yac/e  evidence  of 
the  insurable  value  of  the  property  at  the  date  of  the  policy;  pro- 
vided, nothing  herein  shall  be  construed  to  prevent  the  insurance  com- 
pany or  association  from  showing  ifie  actual  value  at  the  date  of  the 
policy,  and  any  depreciation  in  the  value  thereof  before  the  loss 
occurred;  proviilcd /mlher,  such  insurance  company  or  association  shall 
bo  liable  for  the  actual  value  of  the  property  insured  at  the  date 
of  the  loss,  unless  such  value  exceeds  the  amount  stated  in  the  policy. 
And,  in  order  to  maintain  his  action  on  the  policy,  it  shall  only  be 
necessary  for  the  assured  to  prove  the  loss  of  the  building  insured, 
and  that  he  has  given  the  company  or  association  notice  in  writing  of 
such  loss,  accompanied  by  an  affidavit  stating  the  facts  as  to  how  the 
loss  occurred,  so  far  as  they  are  within  his  knowledge,  and  the  extent 
of  his  loss;  which  notice  shall  be  given  within  sixty  days  from  the 
time  the  loss  occurred;  provided  further,  that  no  action  shall  be  bogun 
within  ninety  days  after  notice  of  such  has  been  given.  All  the  pro- 
visions of  this  chapter  s.'iall  apply  to  and  govern  all  contracts  and  pol- 
icies of  insurance  contemplated  in  this  chapter,  anything  in  the  policy 
or  contract  to  the  contrary  notwithstanding. 

That  in  every  instance  where  a  fire  insurance  company  or  associa- 
tion, doing  business  in  this  State,  shall  hereafter  take  a  note  or  con- 
tract for  the  premium  on  any  insurance  policy,  or  shall  hereafter  take 
a  premium  note  or  contract  which,  ly  its  terms,  or  by  any  agreement 
or  rule  of  the  company  or  association,  is  assessable  for  the  premium 
due  on  the  pohcy  for  which  it  was  given,  such  insurance  company 
or  association  shall  not  declare  such  policy  forfeited  or  suspended 
for  non-payment  of  such  note  or  contract  except  as  hereinafter  pro- 
vided, anything  in  the  policy  or  application  to  the  contrary  notwith- 
standing. 

Within  thirty  days  prior  to,  or  at  any  time  after  the  maturity  of 
any  note  or  contract,  whether  assessable  or  where  the  time  of  payment 
is  fixed  in  the  contract,  given  for  the  premium  on  any  policy  of  insur- 
ance, such  company  or  association  may  serve  a  notice  in  .writing  upon 
the  insured  that  his  note  or  an  installmcit  thereof  is  due,  or  to  become 
due,  stating  the  amount  which  will  be  due  on  the  note  or  contract, 
and  also  tne  amount  required  to  pay  the  customary  short  rates,  includ- 
ing the  expense  of  taking  the  risk  up  to  the  time  the  policy  will  be 
suspended  under  the  notice  in  order  to  cancel  the  policy,  and  that, 
unless  pa)Tnent  is  made  within  thirty  days,  his  policy  will  be  suspended. 
Such  notice  may  be  served  either  personally  or  by  registered  letter 
addressed  to  the  insured,  at  his  post  office  address  named  in  or  on 
the  policy,  and  no  policy  of  insurance  shall  be  suspended  for  non- 
payment of  such  amount  until  thirty  days  after  such  notice  has  been 
served. 

The  assured  may,  at  any  time  after  the  maturity  of  the  note,  con- 
tract, or  installment,  pay  to  the  insurance  company  or  association  the 


40 


IOWA 


customary  short  rates,  including  tho  expense  of  taking  the  risk,  and 
the  cost  of  suit  in  case  suit  lias  been  comnu-nced  or  judgment  rendered 
on  the  note  or  contract,  and  upon  such  payincjnt,  if  he  so  elect,  his  said 
policy  shall  bo  canceled,  and  any  note  or  contract,  or  any  judgment 
rendered  thereon,  shall  be  (lancolcd,  and  shall  b«  actually  void  in 
whomsoever  hands  the  same  may  im :  provided,  that  the  assured  may, 
at  any  time  before  cancellation  o"f  tho  policy,  pay  to  the  insurance  com- 
pany or  association  the  full  amount  due  upon  any  note  or  contract, 
and  from  the  date  of  such  payment  the  policy  shall  be  revived,  and 
shall  be  in  full  force  and  etToct;  provided,  such  payment  is  made 
during  the  time  stated  in  the  policy  and  before  a  loss  occurs;  and  pro- 
vided fnrlher,  that  when  any  insurance  company  or  association  siiall 
bring  suit  upon  such  note  or  contract,  and  shall  collect  the  same,  from 
the  date  of  such  collection  tlio  policy  shall  be  revived  and  bo  in  full 
forco  from  the  time  of  such  colhiction;  provided,  such  collection  is 
made  during  the  time  stated  in  the  policy,  and  before  u  loss  occurs. 
The  provisions  of  this  act  shall  api)ly  to  and  govern  all  (contracts  and 
policies  of  insurance  contemplated  in  this  chapter,  anything  in  the 
application  or  policy  to  the  contrary  notwithstanding. 

■  Ijffe, —  Every  company  transacting  business  in  this  State  shall 
possess  at  least  one  hundretl  thousand  dollars,  invested  in  stocks  or 
bonds  of  the  United  States,  of  this  State,  of  the  State  where  located, 
or  of  the  State  where  the  same  are  deposited,  or  loaned  on  bond 
secured  by  mortgage  of  unencumbered  real  estate,  worth  double  the 
amount  loaned,  situated  within  the  State  where  the  company  is  located. 
Such  stocks  and  securities  shall  be  deposited  with  the  Auditor,  Comp- 
troller, or  chief  financial  ofiBcer  of  the  State  in  which  such  company  is 
located,  or  of  some  other  State,  and  the  Auditor  furnished  with  a  cer- 
tificate, under  the  hand  and  oilicial  seal  of  tho  officer  holding  such 
deposit  showing  that  he  holds  the  same  in  trust  for  the  benefit  of  all 
the  policy-holders  of  such  company,  stating  the  items  of  such  securi- 
ties, and  that  ho  believes  they  are  worth  one  hundred  thousand  dollars. 

Annual  statements  shall  be  filed  on  or  before  the  first  day  of  April 
of  each  year,  showing  the  affairs  and  condition  of  the  company  on  the 
preceding  31st  day  of  December. 

Valuations  shall  be  made  upon  the  basis  of  the  American  Experi- 
ence Table  of  Mortality,  with  interest  at  four  and  one-half  per  cent, 
per  annum,  or  upon  the  basis  of  the  Actuaries'  or  combined  Experience 
Table  of  Mortality,  with  interest  at  four  per  cent,  per  annum. 

If  the  policies  of  any  company  have  been  valued  by  the  proper 
oflBcial  of  any  other  State  upon  the  basis  above  specified,  the  Auditor 
shall  accept  a  certificate  of  such  valuation  as  sufficient  evidence  of  the 
amount  of  premium  reserve  of  such  company.  In  the  absence  of  such 
certificate,  the  Auditor  may  value  the  policies  of  any  company  doing 
business  in  the  State,  or  may  accept,  upon  sucli  evidence  as  he  shall 
determine,  a  valuation  made  by  such  company. 

In  all  suits  on  policies  of  life  insurance,  when  the  defendant  seeks 
to  avoid  liability  on  the  ground  of  intemperate  habits  or  habitual 
intoxication,  it  shall  be  sufficient  reply  for  the  plaintiff  to  show  that 
the  habits  of  the  assured  were  generally  known  in  the^community 


IOWA. 


41 


e  risk,  and 
It  rendered 
3Ct,  his  said 
'  judgment 
Uy  void  in 
jured  may, 
iranco  com- 
)r  contract, 
evived,  and 
it  is  made 
s;  and  pro- 
iation  sliall 
same,  from 
1  bo  in  full 
lolloction  is 
loss  occurs, 
ntracts  and 
ling  in  the 

State  shall 
in  stocks  or 
lero  located, 
ed  on  bond 

double  the 
y  is  located. 
Utor,  Comp- 

company  is 
I  with  a  cer- 
olding  such 
lenefit  of  all 

such  securi- 
sand  dollars, 
iay  of  April 
ipany  on  the 

lean  Experi- 
alf  per  cent. 
1  Experience 
um. 

T  the  proper 
the  Auditor 
dence  of  the 
jence  of  such 
mpany  doing 
)  as  he  shall 

endant  seeks 

or   habitual 

to  show  that 

(^community 


where  the  jigcnt  of  the  defendant  resided  or  did  Ijusincss,  if  the  com- 
pany continued  to  receive  premiums  after  such  knowledge. 

A  certificate  of  health  from  the  medical  examiner  of  a  life  insur- 
ance company,  or  the  physician  acting  as  such,  whi(!h  declares  the 
applicant  a  fit  subject  for  insurance,  under  the  rules  of  such  company, 
shall  estop  the  company  from  setting  up  as  defense,  in  suit  on  such 
policy,  that  the  assured  was  not  in  the  condition  of  health  required 
by  the  policy  at  the  time  of  issuing  the  same,  except  when  such  cer- 
tificate is  procured  by  fraud  or  deceit. 

Fecfi,  —  For  filing  certified  copy  of  charter,  twenty-five  dollars. 

For  filing  annual  statement,  twenty  dollars. 

B'or  each  certificate  of  authority  and  certified  copy  thereof,  two 
dollars. 

F'or  every  copy  of  any  paper  filed  in  the  department,  the  sum  of 
twenty  cents  per  folio,  and  for  aflixing  th.e  official  seal  to  such  copy 
and  certifying  the  same,  one  dollar. 

For  valuing  policiud  of  life  insurance  companies,  ten  dollars  per 
million  of  insurance,  or  for  any  fraction  thereof. 

For  official  examinations  of  companies,  the  actual  expense  in- 
curred. 

Reciprocal  provision  in  reference  to  fees. 

Tmres,  —  Every  company,  at  the  time  of  filing  annual  statement, 
shall  pay  into  the  State  treasury  a  tax  of  two  and  one-half  per  cent, 
upon  the  gross  amount  of  premiums  rec6iv(;d  in  this  State  during  the 
preceding  year,  taking  duplicate  receipts  therefor,  one  of  which  shall 
be  filed  with  the  Auditor,  Such  tax  shall  be  in  full  for  all  State  and 
local  taxes. 

Penalties. —  Any  person  or  officer  doing  business  for  any  fire 
or  marine  company  without  complying  with  the  requirements  of  law, 
or  violating  any  of  the  provisions  of  law  relating  to  insurance, 
shall  be  fined  in  a  sum  not  exceeding  one  thousand  dollars,  and  be 
imprisoned  in  the  county  jail  for  a  period  not  less  than  thirty  days,  nor 
more  than  six  months.  Every  life  insurance  company  failing  to  file 
annual  statements,  and  procure  certificate  of  authority,  as  required  by 
law,  shall  forfeit  one  hundred  dollars  for  every  day's  neglect ;  and 
any  of  its  agents  making  insurance,  or  soliciting  applications,  shall  for- 
feit three  hundred  dollars  ;  and  any  person  acting  for  any  such  com- 
pany, without  having  a  certificate  of  authority,  shall  forfeit  twenty- 
five  dollars  for  each  day's  neglect  to  procure  such  certificate. 

ASSESSMKNT    INSURANCE. 

Admission.  —  Before  admission  each  corporation  shall  file 
with  the  Auditor  of  State  a  copy  of  its  charter  or  articles  of  incor- 
poration duly  certified  by  the  proper  officers  of  the  State  wherein 
organized,  together  with  a  copy  of  its  by-laws,  application,  and  policy 
or  certificate  of  membership.  It  shall  also  file  with  said  Auditor  a 
sworn  statement  signed  and  verified  by  its  president  and  secretary, 
which  statement  shall  contain  the  name  and  location  of  the  said  corpo- 
ration or  association,  its  principal  place  of  business,  the  name  of  its 
6 


42 


IOWA. 


% 

I' 


nresidont  secreUry.  and  othor  principal  officers,  the  number  of  cortifi- 
K  or  Hici-  in  f«^<=«'  '»^«  ag«rogate  amount  -«»;«;^/ l^^^y-^^"^;, 
amount  paid  to  benof.ciarieB  in  event  of  ^^^''^'V^l^d  l^  iserfo^ 
collected  of  each  member  on  each  a«B088ment,  and  tho  purposes  tor 
wS  a8HesB„.ent8  are  made  and  the  authority  ""•^^'[.^^hich  they  arc 
made-  the  amount  paid  on  the  last  death  loss  and  the  date  thereol, 
t"o  araomroT  cash  or  other  assets  owned  by  the  company  and  a«Roci. 
ItranS  how  invested;  and  any  information  wbich  the  AudUor  may 
reuuire      Ml  said  statements  and  papers  thus  filed  shall  show  that 
Tath  or  surrender  value  of  certificate  of  insurance  or  a^ctde^^^^^^^^^^^^ 
nrty  is  in  the  main  provided  for  by  assessments  upon  or  con^"^^^^^^^^^^ 
snrvivinK  members  of  such  corporation  or  association,  and  shall  snow 
oZsaiSonof  said  Audior  that  sa.d  =070-^-"^^^^ 
i-s  leffallv  oreanized  and  honestly  managed,  and  that  an  ord  nary  assess 
mru^nTs  members  or  oth/r  regular  -ntr  bution  to  ^s  mortua^^y 
fund,   insufficient  to  pay  its  maximum  certificate  to  the  Jul    h""' 
named  therein.     Such  foreign  corporation  or  association  shall  also 
SSnatl  to  the  said  Auditor  an  attorney  or  agent  residing  in  th 
SUtf on  whom  service  of  process  or  original  notice  may  be  made;  and 
1?  the  evIntTf  a  failure  lo  appoint  or  designate  such  attorney,  such 
seriice  may  be  made  upon  the  Auditor,  who  shall  at  once  notify  said 
oomnanv  bv  mailing  a  copy  of  said  notice  to  the  secretary  of  said  cor- 
3Sf  or^rJc  atlon.  directed  to  his  last  known  post-office  address 

'An"  So"  cTm'enced  in  this  State  by  --;««  ^PT^^^'s  e^^^^^ 
Auditor  may  be  commenced  in  the  county  of  the  plaintiff  s  residence, 
r^egaXsT:?  the  residence  of. said  attorney  or  Auditoj.  and  every  co. 
poration  or  association  coming  into  this  State  « 'f "  ^^.^  J^,  anv 
Auditor  of  State  a  contract  or  agreement  that  it  ^^^  "« ^  J°/^X J 
action  commenced  against  it  in  any  court  of  this  State  to  the  Uni  ed 
^tlrs  coX  which  contract  shall  contain  the  provision  that  if  such 
fransferrmadrto  the  United  States  courts,  the  certificate  of  authority 

Lued  by  S  Auditor  to  do  business  shall  be  revoked  or  canceled, 
Zit  shall  be  the  duty  of  the  Auditor  to  P^o^P^^y '^^^^J^  ^^.^.^^^ 
cate  of  such  corporation  or  association  as  soon  as  such  transferis 
made  and  such  corporation  or  association  shall  not  be  permitted  to  do 
tosTagaTn  wS  the  State.  Upon  complying  with  the  provisions 
or  E  s  sS^n,  and  upon  payment  of  twenty-five  JoU^'  and  Au^^^^^ 
Rhall  issue  to  such  foreign  corporation  or  association  so  complying,  a 
Sficate  of  authority  tS  do  business  in  this  State,  provided  the  same 

rSht  rextended  by  L  State  in  which  said  corporation  -  orgamzed, 

to  simUar  corporations  or  associations  organized  in  this  c  tate. 

A  »^^.n1    VtntPttipntS.  —  A  detailed  statement  shall  be  made 

ann;irbSore1hf  firm's    d^Iy  of  March,  on  blanks  furnished  by  the 

ludTtor.  S  the  condition  of' each  corpon^tion  on  the  thirty-first  day 

of  December  preceding. 

Examinations. -AMditoT  has  power  to  visit  and  examine 

companies. 

Certificates  and  ^gen**- Companies  and  agents  must 

have  Auditor's  certificate  before  doing  biwmegs. 


r  of  C6rtifi« 
lereby,  the 
the  amount 
irposos  for 
ih  they  are 
\te  thereof; 
and  a«Roci- 
uditor  may 
show  that 
lent  indem- 
•ibutions  by 
shall  show 
association 
nary  assess- 
s  mortuary 
5  full  limit 
1  shall  also 
ing  in  this 
5  made ;  and 
;orney,  such 
notify  said 
of  said  cor- 
See  address, 
attorney  or 
's  residence, 
d  every  cor- 
,e   with  the 
transfer  any 
the  United 
that  if  such 
of  authority 
or  canceled, 
:e  the  certifi- 
I  transfer  is 
mitted  to  do 
le  provisions 
and  Auditor 
jomplying,  a 
led  the  same 
is  organized, 
tate. 

hall  be  made 
ished  by  the 
irty-first  day 

&nd  examine 


agents  must 


KANSAS. 


4i 


Fees.  —  For  filing  charter  and  other  papers,  twenty-five  dollars. 
For  annual  statement,  twenty  dollars. 

For  examinations,  five  dollars  a  day  and  actual  traveling  and  hotel 
expenses. 

For  agent's  cortiflcate,  two  dollars. 

All  other  fees  the  same  as  provided  for  life  companies. 

P«W«i<f<?«— Taking  or  soliciting  applications  for  unauthorized 
companies  is  a  misdemeanor,  and  subjects  offenders  to  a  find  not  ex- 
ceeding one  hundred  dollars  and  costs. 

Compliance  with  the  act  by  secret  or  fraternal  organizations  is  not 
compulsory. 


KANSAS. 


[Legltlatare  meeU  bl«nnUllr.    Naztieulon,  Jannary,  IMl] 
D.  W.  Wilder,  Superintendent  of  Insurance,  Topkka. 

AtlmiHston. —  Every  company  desiring  to  transact  business  in 
this  State  before  admission  shall  file  with  the  Superintendent  of 
Insurance  — 

A  certified  copy  of  its  charter  or  act  of  incor|)oration. 

A  copy  of  the  last  annual  report,  if  any  was  made  under  any  law 
of  the  State  and  country  by  which  such  company  was  incorporated. 

A  statement  under  the  oath  of  the  president  or  vice-president 
and  secretary  of  such  company,  showing  the  capital,  location,  and 
condition  of  such  company.  In  case  of  life  companies,  the  sUtemont 
shall  show  the  condition  of  the  company  on  the  preceding  first  day  of 
January. 

Every  company  shall  file  in  the  Insurance  Department  its  written 
consent,  irrevocable,  that  actions  may  be  commenced  against  the  com- 
pany in  any  county  in  the  State  in  which  the  cause  of  action  shall 
arise  or  the  plaintiff  shall  reside,  and  process  served  on  the  Superin- 
tendent of  Insurance,  and  agreeing  that  such  service  sjhall  be  as  bind- 
ing as  if  made  upon  the  proper  officer  of  su(  h  company.  Such  written 
consent  must  be  executed  by  the  president  and  secretary  of  the  com. 
pany,  authenticated  by  the  seal  of  the  company,  and  accompanied  by 
a  certified  copy  of  a  vote  or  resolution  of  the  board  of  directors 
authorizing  thu  president  and  secretary  to  execute  the  same.  The 
summons  m  any  process  against  any  such  company  shall  be  addressed 
to  the  Superintendent  of  Insurance,  and  require  the  defendant  to 
answer  by  a  certain  day,  not  less  than  forty  days  from  its  date.  The 
summons  shall  be  forwarded  by  the  clerk  of  the  court  to  the  Superin- 
tendent, who  shall  immediately  forward  copies  thereof  to  the  com- 
pany, and  to  its  general  agent,  if  such  agent  reside  in  this  State. 

Certificates  and  Affents.—  T&v&ry  company,  before  trans- 
acting business,  roust  procure  from  the  Superintendent  a  certificate  of 
authority. 

Every  company  shall  certify  to  the  Superintendent  the  names  of 
the  agents  appointed  to  act  for  the  company,  and  such  agents  shall 


44 


KANSAS. 


recoive  a  licenHO  from  the '•*■'■  '-  .♦^  »dent.  Any  company  may  appoint 
a  general  agent  ill  this  Bt-V  '  vutliority  to  appoint  other  agents. 
A  certified  copy  of  such  apv  '  uent  shall  bo  fiioil  with  the  Supenn- 
tendont.  All  cortiflcattm  ana  licHnst's  shail  bo  ronowod  annually,  and 
•hall  continue  in  force  until  the  last  day  of  February  in  each  year. 

■     ICininluntlonH   ami    /i/*/>f///'mri*^N.— Whonovor    the 

Buporintondisnt  has  good  roaaon  to  auspecl  the  corrcctni-Hs  of  any  annual 
«tatomont  inadt!  by  any  company,  or  that  any  such  company  is  in  an 
unsound  condition,  ho  shall  make  or  causo  to  bo  made  an  examination 
into  the  alTairs  of  such  company.  Whenever  the  Superintendent 
shall  deem  it  for  the  interest  i»f  tiie  pu1)lic,  ho  shall  publish  the  result 
tf  such  examination  in  some  newspaper  of  general  circulation  printed 
at  Topoka.  If  it  shall  appear  from  such  examination  or  otherwise 
that  the  affairs  of  any  company  are  m  an  unsound  condition,  he  shall 
revoke  the  authority  granted  to  such  company  to  do  business  in  this 
State,  and  cause  notice  thereof  to  bo  published  in  at  least  one  news- 
paper published  in  the  city  of  Topeka. 

No  lire  or  marine  company  can  transact  business  in  this  State,  if 
its  capital  stock,  after  the  company  is  charged  with  its  proper  liabili- 
ties, is  impaired  more  than  twenty  per  cent. 

No  life  company  can  transact  business  in  this  Stale  if  its  assets, 
after  being  charged  with  all  proper  liabilities,  are  not  equal  to  its 
premium  reserve  ascertained  as  required  by  law. 

l^h'e  and  Marine. —  Every  company  must  possess  a  paid-up 
capital  of  one  liundred  thousand  dollars. 

Annual  statements  must  be  filed  on  or  before  the  first  day  of 
March  in  each  year,  showing  the  condition  of  the  company  on  the  pre- 
ceding thirty-first  day  of  December.  A  synopsis  of  such  annual  state- 
ment shall  be  published  in  each  county  where  the  company  has  an 
agent,  showing  the  assets  and  liabilities  of  the  company,  within  sixty 
days  after  filing  such  statement. 

The  re-insurance  fund  is  computed  at  forty  per  cent,  of  the  amount 
received  for  premiums  upon  unexpired  risks. 

No  fire  risk  is  permitted  to  bo  written  on  property  located  in  Kan- 
sas except  by  licensed  resident  agents.  Violation  of  this  law  subjects 
the  company  to  a  revocation  of  its  license  for  one  year. 

Jjife, —  Every  company  must  possess  at  least  one  hundred  thou- 
sand dollars  invested  in  the' bonds  of  the  United  States,  or  this  State, 
or  of  the  State  by  which  it  is  incorporated,  or  loaned  on  notes  or 
bonds  secured  by  mortgage  of  unencumbered  real  estate  worth  double 
the  amount  loaned.  Securities  to  the  amount  of  one  hundred  thou- 
sand dollars  shall  be  deposited  with  the  propei  official  of  the  State 
under  whose  laws  the  company  is  incorporated,  for  the  security  of  the 
policy-holders  of  the  company.  A  certificate  under  the  hand  and 
official  seal  of  the  officer  with  whom  such  deposit  is  made,  showing 
the  character  of  the  securities  deposited  with  him,  that  he  holds  the 
same  in  trust  for  the  benefit  of  the  policy-liolders  of  the  company, 
and  that  he  is  satisfied  they  are  worth  one  hundred  thousand  dollars, 
shall  be  filed  with  the  Superintendent.     Annual  statements  shall  be 


KANSAS. 


4» 


ly  appoint 
)r  agents. 
I  Supenn- 
ually,  and 
year. 

lovor  the 
my  annual 
ly  18  in  an 
aramation 
rintendent 
the  result 
)n  printed 

otherwise 
1,  ho  shall 
!93  in  this 

one  news- 
is  State,  if 
pur  liabili- 

itH  assets, 
;]ual  to  its 

i  a  paid-up 

rst  day  of 
on  tlie  pre- 
inual  state- 
my  has  an 
ith'in  sixty 

;he  amount 

:ed  in  Kan- 
aw  subjects 


idred  thou- 
■  this  State, 
in  notes  or 
orth  double 
id  red  thou- 
f  the  State 
irity  of  the 
band  and 
le,  showing 
i  holds  the 
e  company, 
and  dollars, 
its  shall  be 


filed  on  the  first  day  of  January  in  each  year,  or  within  sixty  days 
theroafcor,  showing  the  condition  of  the  company  on  tlia  preceding 
thirty  11  rst  day  of  Decoinbor.  A  synopsis  of  such  annual  statement 
shall  bo  published  in  each  county  where  the  company  has  an  agent, 
showing  the  asHota  and  liabilities  of  tin'  company,  within  sixty  days 
after  liling  such  statement.  Valuations  are  made  upon  the  Americair 
Experience  Table  of  Mortality,  with  interest  at  four  and  one-half  per 
cent,  piir  annum.  The  Superuitondent  siuill  once  in  three  years  value 
the  policies  of  all  companies  trunsacting  l»u.Hine8s  in  this  State,  if  the 
same  are  not  valued  \uu\w  the  jirovisions  of  the  laws  of  some  other 
State,  upon  any  Ua^k  which  will  not  retpiire  a  premium  reserve  less 
than  that  provided  by  the  basis  of  valuation  established  by  tho  laws  of 
this  Stale.  If  a  certificate  of  such  valuation  in  any  other  State  shall 
be  furnished  tho  Sujwrintendont,  no  valuation  shall  be  made  in  this 
State. 

Forelffn.— Every  company  must  have  invested  in  tho  stocks  of 
the  United  States  or  some  one  or  more  of  tho  States  two  hundred 
thousand  dollars,  and  such  stocks  must  bo  held  by  citizens  of  the 
United  States. 

Life  companies  must  deposit  with  tho  Treasurer  of  this  State  one 
hundred  thousand  dollars  in  bonds  or  securities  for  the  benefit  of  the 
policy-holders  of  any  sucli  company,  citizens,  or  residtmts  of  tho 
LFiiited  States,  or  furnish  the  Superintondiint  with  a  certificate  from 
tho  proper  ofBcial  of  some  other  State  showing  that  a  deposit  of  like 
character  and  amount  has  boon  made  with  him  for  the  security  of  the 
policy-holders  of  such  company  in  the  United  States. 

Annual  statement>  ^liail  bo  filed  on  the  first  day  of  January  in 
each  year,  or  within  hiXty  days  thereafter,  showing  the  condition  of 
the  company  on  the  preceding  thirtieth  day  of  June,  and  shall  be 
accompanied  by  a  supplementary  annual  statement  showing  the  condi- 
tion of  tho  company  in  the  United  States  on  tho  preceding  thirty-first 
day  of  December.  A  synopsis  of  such  annual  statement  shall  be  pub- 
lished in  each  county  where  the  company  lias  an  agent,  showing  the 
asst  ts  and  liabilities  of  the  company,  within  sixty  days  after  filing  such 
statement. 

JPees.—  For  filing  charter,  fifty-five  dollars. 

For  filing  annual  statement,  fifty  dollars. 

For  each  license  to  agents,  two  dollars. 

For  every  copy  of  a  paper  filed  in  this  office,  twenty  cents  per  folio. 

For  affixing  the  seal  of  office  and  certifying  any  paper,  ono  dollar. 

For  valuation  of  life  policies,  one  cent  for  every  one  thousand  dol- 
lars of  insurance  valued. 

For  examinations,  the  actual  expenses  incurred.  If  the  expenses 
of  the  department  exceed  the  fees  collected,  such  excess  shall  be 
assessed  equally  upon  all  companies  doing  business  in  the  State,  and 
paid  into  the  Treasury. 

Each  company  must,  in  addition  to  the  above  fees,  pay  into  the 
State  Treasury  for  the  benefit  of  the  annual  school  fund  the  sum  of 
fifty  dollars  each  year.  Reciprocal  provision  where  other  and  greater 
fees  are  charged  in  other  States. 


MbM^aba 


46 


KANSAS. 


TnjrflH.—  Foroiffn  companies  aro  required  to  pay  a  tax  of  two  p«r 
cent  Annually  on  or  lM,foro  th.  (Irst  day  of  March  on  -H  prommmH 
roooived  in  ibis  Stato  for  the  y«ar  ondinK  on  tho  prowHl.Pg  tinrtyftnit 
day  of  Doconi»)or.  Keciprocal  provimon  in  roforenco  to  taxes  upon 
other  companies. 

p^„«i#ip«__Kvcry  company  transacting  bum nosH  in  this  State 
without  complying  with  tho  proviHu.ns  of  law.  and  overy  agent  acting 
for  any  company  without  procuring  a  liccnue.  shall  bo  subject  to  a 
penalty  of  five  hundred  dollars  Kvery  v.ohitiou  of  any  prov.mon  of 
law  relating  to  insurance  ahall  subject  the  person  gudty  of  such  viola- 
tion to  a  penalty  of  wot  loss  than  one  hundred  dollars  nor  more  than 
Ave  hundrea  dollars  fi)r  each  offense.  ,     ,      j      ■  i       j 

Combinations  to  control  rates  of  insurance  are  declared  void  and 
agents  or  corporations  entering  into  them  are  subject  to  a  Hne  of  one 
thouBe.nd  dolbrs. 

>if/m<«/«/ow.- Company  must  file  with  the  Superintendent  of 
Insurance  a  certified  copy  of'  its  charter,  by  laws,  appl.cat.on,  and 
certificate  of  membership;  a  certificate  of  the  proper  officer  in  its 
own  State  that  it  has  complied  with  the  law  ;  a  l>ond  w.th  sufficient 
sureties  in  tho  sum  of  fifty  thousand  dollars,  for  the  honest  and  faith- 
u  management  by  the  officer  of  tho  company's  affairs  ;  a  staUjmont 
under  oath  of  its  chief  officers  or  manager  and  secretary  of  all  the 
?jlran5  items  required  in  the  annual  sUtemont,  -d  that  it  has  pau 
and  has  the  ability  to  pay  its  certificates  to  tho  full  limit  ;  and  its 
wHtten  consent  irrevocable,  that  service  of  process  may  be  made  upon 
thfi  Siioerintendent  of  Insurance.  .      „.  .  ,i  • 

There  shall  be  set  aside  and  deposited  with  tho  Treasurer  of  this 
State  by  every  assessment  association  doing  bmnnoss  in  this  State,  not 
ferthan  ten  per  cent,  from  each  ass^sment  made  for  tho  payment 
of  death  claims.  The  net  interest  accruing  upon  such  reserve  shall  be 
p  aSed  to  the  credit  of  the  mortuary  fund,  and  become  a  part  thereof^ 
When  the  death  rate  of  said  association  shal  be  in  excess  of  the 
American  experience  mortality  table,  or  a  sem.  annua  ratio  thereo 
thrand  in  that  event  the  association  may  draw  on  such  reserve  fund 
to  pay  such  excess.  When  such  reserve  shall  have  accumulated  in 
excess  of  one  per  centum  of  the  insurance  in  force  in  such  association, 
such  excess  may,  by  the  order  of  the  board  of  directors  or  trustees 
JSereof  l2  distrLted  by  the  Treasurer  of  State  to  the  members  of 
Rftid  association,  for  the  payment  of  assessments. 

ThesTdSs  aretoli  made  with  tho  Treasurer  quarterly,  and 
„,ust  be  inve^sted  in  United  States  bonds,  Kansas  Statejjid  Schoo 
Lnda  bonds  of  a  county,  township,  or  municipal  corporation  in  this 
State  Sd  Tn  conformity  with  law,  or  bonds  and  mortgages  on 
SumTered  real  estate  within  this  State  worth  fifty  per  cent,  more 
thftn  the  sum  loaned  thereon,  exclusive  of  buildings. 

The  deposit  provisions  do  not  apply  to  companies,  assocmtions,  or 
corporatio^having  a  paid-up  cash  capital  of  at.  least  one  hundred  thou- 
sand  dollars. 


KENTUCKY. 


4T 


of  two  p«r 

pr«mium« 

thirty-first 

axo8  upon 


tins  atato 
ia;ent  acting 
ihjoct  to  A 
roviflion  of 
8uch  viola- 
'  more  than 

d  void,  and 
fine  of  one 


Annunf  StntftnrntM.—  '\i^nni\  .  .iHimontB  mtist  ho  filed,  on 
blanlcH  furniHhod  by  tho  Hiiporintondoiit,  on  tho  first  day  of  January  or 
within  sixty  days  thereafter. 

LtmiHim, —  Licons««  expire  oti  the  hwt  <iay  of  February. 

JEjratntinifioilM.—  Ti^o  Superintendent  haa  authority  u>  exam- 
ine conipunieM  and  revoke  cortifldateii. 

Feet*. —  An  annual  licenno  of  one  hundred  dollarM,  or  /»r«  rata 
from  the  date  of  certiflcato  to  th«'  laBt  day  of  February  following,  but 
In  no  oaHe  loan  than  twenty-five  dollarR. 

Kor  filing  certificate,  copy  of  charter,  anri  other  preliminary  papers 
and  for  filing  annual  Htatement,  ton  doUarH. 

Kor  certificate  of  authority  annually,  five  dollars. 

Kor  each  agent  liceuBcd  annually,  two  dollaru. 


itendent  of 
cation,  and 
fUcor  in  its 
Ih  sufficient 
It  and  faith- 
a  statement 
y  of  all  the 
,  it  has  paid 
flit  ;  an<i  its 
3  made  upon 

urer  of  this 
lis  State,  not 
,ho  payment 
arve  shall  be 
part  thereof, 
ccess  of  the 
atio  thereof, 
reserve  fund 
iumulated  in 
I  association, 
B  or  truBtees 
members  of 

uarterly,  and 
and  School 
ation  in  this 
lortgages  on 
ar  cent,  more 

isociations,  or 
lundred  thou- 


KENTUCKY, 


I  LcgiiUtura  meeU  blennltlljr.    Next  mphIod  ,  Dfcambcr  ao,  IHW.  | 
Henry  K.  Duncan,   fnsurance  Commissioner,  Frankfort. 

AdmiHHfon. —  Every  company  desiring  to  transact  business  in 
this  State  before  admission  must  file  with  the  (Jomniissioi.iir  — 

A  certified  copy  of  its  charter,  articles  of  incorporation  or  deed  of 
settlement. 

A  statement  under  the  oath  of  its  president,  or  vice-president  and 
secretary,  showing  the  condition  of  the  company,  which  may  be  a  copy 
of  the  last  annual  report,  if  any,  made  under  any  law  of  the  State 
by  which  such  company  was  incorporated. 

A  written  instrument  or  power  of  attornev,  duly  signed  and  sealed, 
authorizing  any  agent  of  the  company  to  acknowledge  service  of  pro- 
cess for  and  in  behalf  of  the  company,  and  consenting  that  service  of 
process  upon  any  such  agent  shall  be  as  valid  and  binding  as  if  served 
on  the  company. 

If  any  such  company  shall,  without  the  consent  of  tho  other  par- 
ties to  any  suit  or  proceeding  against  it  in  any  court  of  this  State, 
remove  such  suit  or  proceeding  into  any  Federal  court,  or  if  such  com- 
pany shall  hereafter  institute  any  suit  or  proceeding  against  any  citizen 
of  this  State  in  any  Federal  court,  it  shall  be  the  duty  of  the  Auditor 
forthwith  to  revoke  all  authority  to  such  company  or  its  agents  to  do 
business  in  this  State,  and  to  publish  such  revocation  in  some  news- 
paper published  in  this  State. 

Certificates  and  Agents.— '^^e>  Auditor,  upon  receiving  a 
certificate  from  the  Insurance  Commissioner,  showing  that  any  com- 
pany has  fully  complied  with  tho  requirements  of  law,  and  is  possessed 
of  the  requisite  capital  or  assets,  shall  furnish  to  such  agents  as  the 
company  directs  a  copy  of  the  certificate  of  the  Commissioner,  together 
with  a  license  to  such  agents  to  transact  business  for  such  company. 


4t 


KKNTITCKY. 


Tho  eertiflraut  of  the  Ct)mrai*»i»n«r  to  th«  Au<litor  and  copion  of  inch 
rprlillcBto.  t<)«.Hhor   with  thn   lict.UMWi  to  mmlt,  nhull   Im»  r«nownrl 

kniumlly.  .  ,  ,   ,,      . ,   .  ,i 

Evory  RKi-nt,  iit  all  wlv.Ttisomoiitii  of  hi*  ft«om'y,  Hhall  f.uhlmh  Mm 
locution  of  Ih..  <-om|.any  h.-  r..i)roHontH,  Kivii.K  tho  namo  of  tho  city, 
town,  or  villiiKo  in  which  it  in  lociU.'.l.  and  tlio  Hlat«<  or  novornin.mt 
untlcr  tho  UwH  of  which  il  in  otKiinizrxl. 

AgcntH  may  ho  lic>  -iSod  to  plwo  iiiHuranai  in  unaulhoriwMl  coin|«- 
nioH  iukLt  cor'tain  cinMim»tanro«,  hut  ii!ilc««  done  under  Huch  hct>n«o 
such  iniiirance  is  null  and  void. 

liV«m/«</f/oiiN  <»/Kf  fm/m//-mf  «N.-ThoCommiM|oner, 
whonovor  ho  tU^oiiiH  it  iiocoHHaiy,  may  .-xairiino  into  th<^  atlHir«  and  con- 
dition of  any  company  doing  bimmoHK  in  thia  Slate.  W  hmuwer  li 
rthall  api>«Rr  to  tho  HiitiHfaction  of  tho  Cominiftaioncr  that  the  aflairn  of 
any  HU«-h  company  aro  in  an  unwund  condition,  or  not  coriforma»»l«  to 
any  Htamlani  a<loi>t«tl  hy  thin  Stato,  or  if  any  ci>tni)ftny  »httU  refuie  to 
iHirmit  an  oxarninalion,  Jlio  Auditor,  at  the  re<ju«st  of  CotiimiKmonor, 
ahall  revoke  all  certiflcatofl  granted  in  behalf  of  «ach  company,  and 
shall  cause  notieo  of  HUch  rjvocAtion  to  bo  published  i»  Bomo  one  or 
more  new8pa[xirfl  of  general  circulation  puhlialiod  in  the  State,  and  a 
copy  thereof  mailed  to  oacli  agiint  of  such  company  licensed  by  tho 

Auditor.  ,         .     ., .    «,  ,    j. 

No  fire  or  marine  company  can  transact  bumnrss  in  this  »tftte  u, 
after  the  company  iu  ehariced  with  its  proper  liabilities  and  the  amount 
required  by  law  for  a  reinsurance  fund,  its  capital  i«»  impaired  to  the 
extent  of  twenty  por  cent.,  unless  such  impairment  ahall  bo  made  good 
within  sixty  days.  Nf»  credit  is  givcui  for  ro-insurancfs  in  unauthorized 
companicB,  and  schedulea  of  re-inBurancoa  are  required. 

No  life  company  c*u  i-ransact  bueinijss  in  this  Slate  if  its  assets  are 
not  of  a  net  ca.'^h  value  equal  to  it«  liabilities,  including  the  premium 
reserve  computed  as  ri-quirtsd  by  law. 

rirc:  ft  tiff  Marine, —  Every  company  must  possess  a  paid-up 
cosh  cu'pital  of  not  leas  than  one  hundred  and  (Uty  thousand  ilollarH. 

Annual  siatonionts  shall  be  flled  on  tho  lOth  day  of  January  in 
each  year,  or  within  one  month  thereafter,  and  shall  show  the  condi- 
tion of  tho  company  on  the  preceding  3lBt  of  December. 

Tho  Commissiono.'-  may,  for  good  cause  shown,  extend  the  time  for 
filing  annual  statements. 

Tho  rc-insuranco  fund  is  computed  at  fifty  per  cent,  of  tho  gross 
premiums  received  and  receivable  upon  all  unexpired  risks. 

fjife,—  Every  company  must  possess  well-invested  assets  to  the 
amount  of  one  hundred  thousand  dollars. 

Every  company  must  file  with  the  Commissioner  the  certificate  of 
the  Superintendent,  Insurance  Commissioner,  or  chief  financial  oScer 
of  some  other  State,  under  his  hand  and  official  seal,  that  he  holds  on 
deposit  for  tho  benefit  of  all  policy-holders  of  such  company  stocks 
and  securities  to  the  amount  of  one  hundred  thousand  dollars,  stating 
the  character  of  such  securities. 

Annual  statements  must  be  filed  on  the  lOth  day  of  January,  or 


)io«  of  Hiich 
H*  runoWHil 

|iul)liHh  ihfl 
r.f  tlio  city, 
^DVorniiumt 

iKtHl  coin()a- 


rnitilMiinnnr, 
iiM  nn<\  con- 
VlmnoviT  it, 
lie  ufTairtt  uf 
furinahlfl  to 
ill  refuse  to 
TiimiKnioiiPr, 
inpiiny,  ftnd 
jom»J  one  or 
>;tate,  and  a 
naetl  by  thv» 

hii  Statp  il, 
the  amount 
taired  to  the 
1)  made  good 
luauthorized 

its  ftBstita  aro 
ho  preraium 

]M  a  paid-up 
id  elollarH. 
[  January  in 
w  the  condi- 

the  timo  for 

of  tho  gross 

»s80t8  to  the 

certificate  of 
ancial  ofScer 
b  he  holds  on 
ipany  stocks 
)llar8,  suting 

:  January,  or 


KKNTIJCKY.  41 

within  <ixty  day**  thnrnuft^u-,  ilmwiiig  tli.>  nondltion  of  tho('oin|Hkny  on 
tho  j>rejf«Mling  ;tUl  dtty  of  Uin-Hnlntr. 

Tht)  ImaiiN  of  vuluatton  in  tht«  >Stntt3  in  ttio  Ainiirican  Kx|i<iri)<nr<« 
Tahlo  of  Mortality,  with  intnroat  at  four  ami  oiio-half  iM«r  cont.  \wir 
annum. 

Tho  t'oriitiiUHiDnin-  ih  ri<i{uirvU  to  vnhitt  tlio  outataiuling  poiici<>it  of 
all  cuiii}iHiii«$N  duiiig  bumiiMMi  in  tliU  Htatu  atinuully,  if  mucIi  cuinpiiiiy 
i»  not  iiu;i)r}»ortttod  in  a  Stat«  whont  llit»at  m  a  ngulariy  organ i/.i'd 
InHuruiico  i<ur«au  or  L)<*partiuunt.  In  mwh  ca»««,  if  th«  coinpnny  Hliall 
funiiah  a  CMrttl:cutH  of  ihit  Intiiiani'i*  ('ommiitiiiunur  tr  Hu|)«rint«>ndt<nt 
in  duo  form  uiKJor  Mcai.  nutting  forth  tliti  <<xiiiting  valiK*  of  all  itM  out- 
fltandiiig  policM.'i,  HUcli  I'urtitlcatL*  Htiail  hn  H(%t<iiCi'd  by  llu*  CoiiitniM- 
Hionor,  and  no  valiialion  of  tho  [(oiiclvH  of  hucii  c'liiipanitm  Hiiall  ho 
niadtt  by  him.  Huch  ccrtilicato  in  not  reijuirod  to  hIiow  a  valuation 
inado  vifH>n  any  pariiniiar  ba«iH,  providf'd  tho  vaiuna  aro  not  \vha  than 
thos«>  on  the  banig  udoptud  by  tho  Stat". 

Kv»>ry  company  muHt  annually  (il«  witli  ihn<Joinniin»iiont>rn  d»'Hcri|)- 
tivi.f  list  of  all  pvdiuiiiii  in  forco,  iiiui  a  Iiko  liHtof  all  policicM  wliich  liavu 
r«rminated,  with  thu  nsudf  und  tnannur  of  tortuinution  and  ihu  amount 
paid  iu  each  cotio. 

MlavvllittH'on^, —  No  company  doing  a  flro  and  marine  busi- 
worn  ran  do  ticcidoiit,  plato-glann,  live  stui^k,  Hluain  ixtilcr,  gnnraiity  or 
other  businuHs,  and  nu  conipany  organi/.od  for  tho  latter  can  do  a  liro 
and  marine  buHiuoHM,  imr  niiTu  than  orio  of  tlio  otln'r  cliiMMfs,  without 
ilepositing  ong  hundred  timufaiul  dolliirj  with  tho  [uojior  olBcor  of  the 
Htato  witurc  organi/.fMi,  and  lifty  thousand  additional  for  each  kind 
of  businoss  trauHacted. 

/"'o^'r/f/H*— Kvery  conpany  doing  a  fire  or  marino  businnBn 
siiall  file  with  tho  (JoimniHHioinr  tho  cortilicate  of  tho  Auditor,  I'orop- 
trolkir,  or  chii-f  linancial  ollijer  of  aotno  otliur  State  of  tlin  (Fnitnd 
StaiuH,  iHuiur  \m  liand  and  otiicial  si'al,  showing  tliat  hUch  ofliccr  IioMh 
on  <ie|«j8it  >Mid  in  fruHt  for  tht  btMioIlt  of  alt  the  [(olicy-hold.frs  of  such 
company  iu  the  United  Slates  securities  to  tiie  amount  of  two  liiindred 
tliouHand  dollars. 

In  cane  no  such  deposit  is  made  in  any  otb.or  State,  such  depopit 
ir.'iy  be  made  with  tho  Auditor  of  tijis  State. 

Feet*. — 

For  hconso  to  oacli  agent  of  a  fire  company,  iUo  dollars. 

For  license  to  each  agent  of  a  Hfe  company,  ten  dollars. 

For  original  deposit  of  securities,  ten  dollars. 

For  filing  certified  copy  of  charter  or  deed  of  settlement,  forty 
dollars. 

For  filing  annual  statement  of  condition,  forty  dollara. 

For  filing  any  additional  or  supplemental  statement,  twenty-five 
dollars. 

For  seal  of  ofhce  with  certificate,  one  dollar. 

For  copies  of  any  papers  on  file,  twenty  cents  j)er  folio. 

For  cost  of  making  valuations,  not  to  exceed  tiiree  cents  for  every 
7 


50  KKNTITCKT. 

tUu,w«!u!  d..!l»r.  of  ttmunine.  y»lu«.l.     '^\\'*'^'''"^S!r!!!^mluS 

uMh  coni|«i.y  .loin«  I.um.iom  .»  llii-  Sl»U.,  to  provLI..  for  ».iy  .lutW-i.iuy 
In  the  ox|i«hiMi«  of  lh«i  Inirenu. 

HacipnH'al  proviitioii. 

Tti  ft-M  —  Kvfry  llr«  or  iimriiio  coinimiiy  <*\m\1  on  Mim  iMt  «Uy»  of 

th«  total  ttinounl  of  all  pr-MuiurnH  r.«>...vo.l  w.tl.u.  ihi.  «\«t«   "f^^  "^^^^^^ 
month.  i.r.KH«linK.  .n.l  .hall  ui  il..>  -unH.  ..n...  |my  u.tu  ...»  ^ruam  rv 
T-  ritntl  a  tax  of  two  .lolUr-  un-l  liuy  cont»  up-n  ......h  on..  hun.ln«l 

dollarn  of  Huch  prtuiiiutnii.  ,    ..,.„„, 

•rh«  Stalo  alo„t  or  .«ana««r  of  ovory  llf«  i-om,«ny.  an.i  who  .  Ih 
1.  no  StatM  UK""'  "'•  ""»'"ig.'r,  th.n.  a  H|..'aal  a«n»t  appointwl  for  th. 
puruone.  «hall  on  th«  (in.1  .lay-  of  .la.n.ary  ami  ,luly  u.  mch  ymr  or 
w"t,«  thirty  .iay«  ih.Toaft.r.  r.-mrn  to  th.  Au.l.K.r  a  .ornx-t  Htat«^ 
nun  un.ior  oath  of  all  prunuunm  r..c.,lv..d  or  r.v.Mvahh,  ».y  any  of  tlu, 
ai'tH  o  Iho  co.npany  i,.  th.n  S.ut...  and  .h.  .unount  of  u..urauco 
tLte-l  for  tho  Kii  M.onth.  on.i.n«  on  th.  Ian.  dayn  of  thn  P  |  •-  "K 
Jun«  or  i)«c«.nbor.  or  »inc«  iho  lant,  roturn  was  ina-lo,  ^'V.-ry  f.  on  ■ 
r«ny  -I'all,  «•>'  "r  h,.fon.  th.  lirnt  Mon.layH  of  l-Vbruary  ami  An«  .  n 
S  yoar  pay  into  tho  Stato  tr.,aHury  a  tax  of  two  lioHarH  an,l  (if  y 
c.^.t.^;,^n  o«ch  ono  hundred  .lollar.  net  promiunm  r.oo.v«d  m  cmU. 

l*,'nnHh-H  —  Kvory  tLumi  of  an  iimurunco  company  tranHacting 
buaimiH  witlumt  a  li.-.u. ^Hhall  U.  .ubj.ct  to  a  ju-nalty  not  ..xc<.<|du^ 
fifty   dollars    for    uaoh   ofToniw.    with   imprmonnumt    if    not   paul    or 

*"*'' Evm  aKent  doing  husinoHH  for  any  .company  aflor  tho  r.^v.Kalio,. 
of  itM  authority  Hhall  l>«  suhjoct  to  a  penalty  not  oxcoedinn  om.  hundred 

''"""Any  li^>  con.p'iny  .loin^  hUHinoss  in  thin  Statn  and  n««hH,ting  to 
mako  rutnrn  m  roquirnd  by  law.  shall  forf.dt  t..n  dollarH  for  ..u-,h  day  « 

""^^Kvtry  lire  or  mar.nn  c<.mpany  negh-ctinn  tor  thirty  .lays  to  inakt. 
n.turn  of  prom.un.s  hm.1  pay  tax.-suH  r*..ii.ir..d  by  law,  fihall  forf.-it  and 
nav  on«  thousand  dollaiH.  i  ,  .„ 

'  Evorv  agent  of  a  lifo  company  roqumni  to  mako  r«tnrn  and  pay 
Uxandn..gU.c.ing  to  do  .o  w.thin  th.  timo  prcHcriUul  «'y<^w.  Hhall 
Srfoit  tw.nty  live  d..llar«.  If  nuch  agent  negkH-tH  ^-J  tun  day  aft.r 
notice  from  the  fomnuKsioner  I.,  pay  hucI.  tux,  ho  shall  forfeit  five 

^"°AntnKnmnc«  con.pany  of  another  State  or  country  appealing  from 
a  judgment,  shall  be  subject  to  a  penalty  of  ten  ^r  cent,  of  the 
amount  of  the  judgment. 

ABBKBSMKNT   INSUKANCR. 

AftinlMHlon.  —  An  aBsesBniont  company  applying  for  admiBsion 
musf  file  ;^u(  the  Insurance  Comnussioner  a  certified  copy  of  Us 
charter  or  articles  of  H.corporation,  a  copy  of  its  sUtement  othmrn^^ 
for  the  year  ending  tho  .list  da>  of  the  next  precinhng  Decemtjer, 


r.<»triHiANA. 


11 


■M  of  the 

Hint  ii|H)ii 


It  iUy»  of 
1  Aiuluor 
or  iIm^  •ix 
■uMiiry  of 
It  buiKirixl 

^lion  thuro 
•hI  fur  th»' 
ill  y«mr,  or 
■ri'Ct  Mtati) 
titiy  of  lli« 
iuMUi'aucti 
proftuUng 
y  lift!  com- 
An^iiHt  in 
t  tu\<\  llfty 
ml  111  ciihIi. 

TanHantiiiK 

<>xc<><t(iiiig 

)t   paiil   or 

rnv(K"ftlioii 
iku  hundred 

j^locting  to 
nach  diiy'rt 

yd  to  m»ka 
1  forfi'it  and 

rn  and  pftv 

•y  law,  aliall 

I  days  aftor 

forfeit  five 

ii'aling  from 
3ent.  of  the 


ar  admisBion 

copy  of  its 

t  of  buHincBB 

J  Ueccuiljer, 


iwiim  In  hy  lh«  proMitltMit  aii<l  iw'cnaiirv  or  likn  tilllcnrM  thuniof,  Mttintf 
forth  tlu>  miiiilMT  ntiil  lunouni  of  cttrtitlralrs  of  rnt>m)N*n4hip  or  |»olici«tii 
tn  fon-o,  mid  a  d<'inilt'd  an'oiuil  of  u*  «i)i|«>iii|iKin'ii,  iiii'oiiu',  auMiiii,  and 
hahihtiuM,  tnd  kIho  a  c«rtilii-at«i  nworn  to  l>y  th<i  prtmnh-nt  and  Mtioiittary, 
or  hki»o(!l<'oi's  tht-n'of,  iti'ttitiK  forfli  that  It  ha«  pi.id  ami  hun  (hf  ahillty 
to  pay  It*  I'crtilinilti  or  |h»Ii.ii'«  to  ihn  iull  limit  iiaiin'd  lhi»rfiii;  that  itM 
ti<rMli<'atfM  i>r  policjcii  arx  payaliln  only  to  liiMiflliMariiii'  having  a  h<gal 
ini»urahli«  intorewt  in  tint  lift-  of  iho  nu'inlM-r  or  innturt-d;  that  an  ordl 
lury  anNOMini'nt  ii|M>n  ita  nimnliorit  ih  «tiini(*i»nt  (o  |>ay  it*  nnixiinuni 
cortiflcatt)  of  iiniiiilM'r»«hip  or  fxilicy  ihon-tofori'  iHi«mt<i.  if  any,  or  ihoro- 
afli-r  to  Im»  JMMiM'd  to  rf<id««ntH  of  thi<  !^tnt«,  to  iho  full  aiiioimt  or  limit 
naiiiod  thorniii;  a  riTtillfHto  from  thi-  lii«uiaiii'ii  ('ommiH«ion«r,  or 
othor  likt' olllcor  rhargod  with  thi'duty  of  I'xocuting  or  mfon-itig  th«' 
OXfitiulion  of  thf  inauraiK!.'  lawit  of  ilM  hoiii"  Stato,  corlifying  that  it  ii 
legally  ontitlt'd  to  do  huMincMM  in  itx  hoiim  Statu;  a  oopy  of  tint  appiiua- 
tion  for  mitmhftHhip  or  iiiHiiraiirt',  rtnd  of  i>ufh  form  tln-n'of,  if  mora 
than  onn  form  in  iim-d;  a  oopy  of  the  form  of  (•<»rfitl<att'  of  mitinlxT 
ship  or  jM»licy,  and  twh  form  tln»ii>of,  if  moio  than  one  form  in  iimtd  ; 
»  oopy  «»f  thn  constitution  and  hy-lawn  and  of  oach  and  («v<ry  •'diti<jn 
thi'Mof.  which  miwf  hIiow  that  all  indt-innitii-H  to  h(«ii«(liMaric«  aro  in 
tini  main  providi-il  for  liy  iismwumt'iitM  ii|>on  all  ^-urviving  momlKim. 

It  inuHl  aino  nil  1  powor  of  attorney  authorizing  /ir.y  and  ovory 
•gont  to  accept  Kcrvico  of  pro»»'iw,  and  aUo  an  attorney  for  tim  HtaUi 
who  in  a  ronidonr,  thuroof,  Ucinoval  of,  or  coiniiu-niing,  HuitH  to 
United  States  TourtR  forfeits  right  to  dohuHincsH  in  tho  Htat<». 

Statenti'titH  and  liicmw*.  ....mt  be  nuicwod  annually,  ami  the 
general  pioviHioim  regarding  HiiperviHioii  aro  tin*  Haino  aH  tlioBc  for  lifo 
companioa.     hVatornal  sociolifB  aro  exoniid  from  compliaiico. 

FvvH,  —  To  CommiHHionor: 

lAir  (lling  charter  ami  other  pa|)erH  when  admitted,  and  for  all 
lic«n«08  iHHiied  during  the  onHuing  year,  two  huinlrcd  dollars. 

Kor  tiling  annual  Htalement  and  for  licenHos  «'ach  year  thereafter, 
two  hundred  dollars. 

TflJreM.  —  One  fwr  cent,  on  all  nioneys  received  in  the  State  on 
now  huBinoBs  during  the  year  ending  December  thirty-ilrHt. 

PciHtfflt'M,  —  For  tran8a(!ting  busin(!8s  for  con^fknios  not  having 
complied  with  the  law,  a  line  of  not  less  llian  llfty  nor  more  than  one 
hundred  dollars  for  each  ofifonse,  with  itnprisoninent  if  not  paid  or 
replevied. 


LOUISIANA. 


[Legialiiture  meett  tilonnlaUy.    Next  aeidlon,  May  19,  180O.] 
SiMKON  ToHY,   Assislanl  Secretary  of  Stale,  New  Orleans. 

AdniiHHloH. —  No  insurance  company  can  do  business  in  this 
State  until  it  shall  have  filed  with  the  Secretary  of  State  a  copy  of  the 
last  annual  statement  of  its  business  and  affairs,  duly  sworn  to  under 


63 


LOUISIANA. 


oath  of  tho  I'resiiloiit  and  Becretary  of  iho  company,  or  in  their  stead 
the  reHidont  tnanagcr  of  tho  United  Htatcs,  if  it  U-  a  foreign  insurance 
coninnny,  with  power  of  attorney  to,  and  ai»poiiiting  an  agent,  and 
obtaining  a  cortilicato  of  compHance  from  the  Secretary  of  State. 

Annual  ,S7ff<r»*rM^«  in^st  be  made  under  oath  of  president 
and  secretary,  or  resident  manager  of  foreign  company,  hetW(Hni  the 
first  .lay  of  January  and  the  first  day  of  Murcli.  Statements  must  be 
publisJied  by  agent  for  one  month  in  two  newspapt^rs  of  tlio  parish 
wliere  he  is  located,  and  must  be  liled  in  tho  ofTice  of  the  Secretary  of 
State.     The  puljlication  is  of  Louisiana  business  only. 

l,ife  companies  must  file  with  tho  State  Auditor,  annually  on  the 
first  of  January  or  within  ninety  days  thereafter,  a  statement  similar 
to  the  annual  statement  required  by  their  charter  or  by  the  laws  of 
the  Sta^e  where  organized. 

/''Oiv'/f/i*.— Kvery  foreign  company  must  deposit  twenty-five 
thousand  dollars  with  the  Treasurer  of  Louisiana,  unless  it  has  an 
equal  amount  deposited  in  some  other  State  for  the  protection  of 
all  policy-holders.  It  must  not  take  credit  in  its  statements  or  adver- 
tisements  for  any  assets  not  in  the  hands  of  American  trustees  or 
deposited  for  the  benefit  of  all  policy-holders,  and  within  the  United 

No  foreign  insurance  company  shall  be  admitted  to  transact  a  fire, 
river,  marine,  or  inland  navigation  insurance  business,  or   take  any 
risks  through  any  agent,  agents,  or  attorney,  until  they  shall  have  filed 
with  the  Secretary  of  State  a  copy  of  their  charter,  officially  veritied, 
a  certified  copy  of  a  statement  of  their  affairs,  a  certifu  d  copy  of  the 
vote  or  resolution  by  which  their  agent  or  agents  were  appointed  in 
the  United  States,  and  this  Slate,  together  with  a  certified  copy  of 
the  trust  deed  or  instrument  under  which  they  are  to  act,  defining  tlieir 
powers  and  if  the  agent  or  agents'  appointment  in  this  State  is  derived 
from  the  general  agent  for  the  United  States,  said  agent  or  agents 
shall  be  further  vested.     That  service  of  legal  process,  original  mesne 
or  final  on  such  agent  shall  bo  taken  and  hold  as  valid  as  if  served  on 
the  company,  and  that  acknowledgement  of  service  of  such  process  by 
him  for  or  on  behalf  of  such  company,  shall  be  obligatory  on  it  and  that 
judgment  recovered  on  such  service  or  acknowledgment  shall  be  con- 
clusive evidence  of  the  indebtedness  of  the  company. 

TtlJreK. Foreign  fire  and  marine  comijanios  are  taxed  upon  their 

capital  six  mills  on  the  dollar,  unless  the  same  pays  a  tax  in  some  other 
State.  The  capital  here  meant  is  the  aggregate  of  deposited  securities 
in  this  and  other  States  and  real  estate  bonds  and  mortgages. 

Licences  are  based  upon  the  premiums  annually  collected  in 
the  State,  less  reinsurances  and  cancellations,  and  must  be  paid  to  the 
tax  collectors  of  the  parishes  on  or  before  the  first  day  of  March,  after 
which  date  they  bear  interest  at  the  rate  of  two  per  cent,  a  month. 
They  are  divided  into  classes  as  follows:  ,     j    ,  a 

First  class— When  said  premiums  are  three  hundred  thousand 
dollars  or  more,  the  license  shall  be  seventeen  hundred  and  fifty  dol- 
lars ($1,750). 


LOUISIANA. 


63 


)r  in  tlieir  stead 
jFoign  iiiHiiranco 
an  agi-nt,  and 
y  of  Stato. 

ith  of  president 
,ny,  betwoen  the 
onion ts  must  bo 
;rs  of  the  parish 
the  Secretary  of 

annually  on  the 
tatoment  similar 
jr  by  iho  laws  of 

joait  twenty-five 

unless  it  has  an 
lie  protection  of 
(uients  or  adver- 
rican  trustees,  or 
ithin  the  United 

to  transact  a  fire, 
ess,  or  take  any 
jy  shall  have  filed 
officially  verified, 
tifird  copy  of  the 
vere  appointed  in 

certified  copy  of 
act,  defining  their 
is  Stato  is  derived 

agent  or  agents 
!ss,  original  mesne 
d  as  if  served  on 
)f  such  process  by 
;ory  on  it,  and  that 
lent  shall  bo  con- 

e  taxed  upon  their 
,  tax  in  some  other 
eposited  securities 
lortgages. 

nually  collected  in 
lUst  be  paid  to  the 
ay  of  March,  after 
ler  cent,  a  month. 

hundred  thousand 
Ired  and  fifty  dol- 


iSocond  class — When  .said  preiniums  are  two  hundred  and  (ifty 
thuiiHund  (lollurs  and  l(;.«s  than  thieo  liuna -cd  thousand  dollarH,  the 
liccii.se  shall  ln'  lifteen  iiundred  dollars  (§1, ,')()()). 

Third  class—  When  said  premiums  are  two  liuiidrod  thousand  dol- 
lars, and  loss  than  two  hundred  and  fifty  thousand  dollars,  the  license 
•shall  1»('  twelve  hundred  and  fifty  dollars  ($],'.'.")()). 

Fourth  class — When  said  preniiums  mo  one  Iiundred  and  fifty 
thousand  dollars,  and  less  than  two  Iiundred  tliou.sand  dollars,  the 
license  shall  be  one  thousand  dollars  ($1,000). 

Fifth  class — W lion  said  preiniums  are  one  hundred  thousand  dol- 
lars,  and  less  than  one  hundred  and  (ifty  thousand  dollars,  the  license 
shall  be  seven  hundred  and  fifty  dollars  (8750). 

Sixth  class — When  said  promiuniH  are  eighty  thousand  dollars, 
and  less  than  one  hundred  thousand  dollars,  the  Ucense  shall  be  seven 
hundred  dollars  ($700). 

Seventh  class —  Wlien  said  premiums  are  seventy  thousand  dollars, 
and  less  than  eighty  thousand  dollars,  the  license  shall  bo  six  hundred 
and  fifty  dollars  ($G50). 

Eighth  class—  Wlien  said  priimiums  are  sixty  thousand  dollars, 
and  less  than  seventy  thousand  dollars,  the  license  shall  be  six  hundred 
dollars  ($G00). 

Ninth  class—  When  said  premiums  are  fifty  thousand  floUars,  and 
less  than  sixty  thousand  dollars,  the  license  shall  be  five  hundred  and 
fifty  dollars  ($550). 

Tenth  class —  When  said  premiums  are  forty  thousand  dollars,  and 
loss  than  fifty  thousand  dollars,  the  license  shall  be  five  hundred 
dollars  ($500). 

Eleventh  class — When  said  premiums  are  thirty  thousand  dollars, 
and  less  than  forty  thousand  dollars,  the  license  shall  be  four  hundred 
and  fifty  dollars  ($450). 

Twelfth  class  —When  jaid  premiums  are  twenty  thousand  dollars, 
and  less  than  thirty  thousand  dollars,  the  license  shall  be  four  hundred 
dollars  ($400), 

Thirteenth  class — When  said  premiums  are  ten  thousand  dollars, 
and  less  than  twenty  thousand  dollars,  the  license  shall  be  three  hun- 
dred and  fifty  dollars  ($350). 

Fourteenth  class — When  said  premiums  are  less  than  ton  thousand 
dollars,  the  license  shall  be  three  hundred  dollars  ($300). 

The  Attorney-General  rules:  "Under  Sec.  28  of  Act  101,  1886, 
any  person,  firm,  or  company  having  more  than  one  place  of  business 
of  any  kind,  shall  pay  a  separate  license  for  each.  This  does  not 
mean  a  double  or  treble  license  for  all  the  business  done  at  all  the 
places,  but  that  license  for  each  place  shall  be  graded  on  the  amount  of 
business  done  there  alone."  ."  Under  this  general  provision  separate 
insurance  agencies,  reporting  independently  to  the  same  foreign  com- 
pany,  or  its  general  agent  outside  of  this"  Stato,  would  be  liable  for 
separate  licenses,  each  according  to  the  business  done  by  it." 

Under  this  ruling  all  sub.  dual,  or  co-agents  must  report  to  the 
general  agent  and  attorney  of  the  company,  where  said  agent  and 
attorney  resides,  which  is  considered  the  domicil  of  the  company  in 
this  State,  or  pay  separate  licenses.     Nor  can  any  person  represent 


■■A--i^i^^m^Mmmi^mmmm(tmmi»'' 


54 


MAINE. 


and  cornplianco  obtained.  j^  j^^^i. 

Every  mun  c  pal  corporation  m  the  Mate,  w'loro  »»  »B  ^ 

^^^^^^S^X^Srplit  Sicense^  in  a  con«picuoi.  place  in 

''"[i^Ses   to  the  aHsured  are  prohibited  by  law  under  penalties  of 
forfeiture  of  right  to  do  business. 


MAINE. 

[LeKWatnre  meet,  biennially.    Nt-xtse.Blon  January  7. 1891.) 
Joseph  0.  Smitu,  Insurance  Commissioner,  Augusta,  P.  O. 
A.UulMHton  -Every  insurance  company  desiring  to  transact 

"""se^L  of  process  may  be  made  upon  any  authorized  agent  of  such 
com  w  an  1 '  haTl  be  v  Jlid  and  binding  upon  the  company     I    no 

mmsmmm 

may  suspend  the  power  of  the  company  ^o /«  ^---s  in  th«^^^^^^^^^ 
No  stipulation  shall  deprive  the  «°^^'«  "^f^j^fp^iod  before  com- 

in":?^g^ufrt;^^^^^^  ^^^ — ^^ 

action  accrues. 

after  annually.  ^  ^^^^^  ^^^  ^^^  filed  with 


MAINE. 


66 


!opy  of  the  act 
ite  of  authority 

n  agent  is  donii- 
riso  as  the  Stat(\ 
lors  are  small  in 
he  State  lietween 
cceived  the  lirst 
z,  after  the  first 

siiicuous  place  in 

nder  penalties  of 


,  1891.) 

USTA,  P.  O. 

siring  to  transact 
ith  the  Insurance 
laws;  a  statement 
wing  its  financial 

ized  agent  of  such 
company.  If  no 
Insurance  Com- 
on  the  agent.  If 
id  made  of  agent 
otice  and  hearing 
jess  in  this  State. 
»te  of  jurisdiction 
leriod  before  corn- 
time  the  cause  of 

pany  before  trans- 
from  the  Commis- 
[o  business  in  the 
be  renewed  there- 
has  been  filed  with 
am  the  company  or 
jmpany  authorizing 
sen  duly  appointed 
ler  shall  thereupon 
e  until  the  first  day 
o  year  in  like  man- 


ner. The  knowledge  of  the  agent  of  the  company  in  reference  to 
risks  antl  of  omissions  and  misdescriptions,  shall  bo  regarded  as  the 
knowledge  of  the  company,  and  as  waived  by  it  the  same  as  if  noted 
in  the  policy. 

Special  licenses  may  bo  granted  to  fire  insurancio  agents  to  place 
excess  lines  in  unauthorized  companies  having  $100,000  capital,  on 
payment  of  ton  dollars  license  fee  and  filing  a  bond  that  tliey  will  pay 
a  tax  on  gross  premiums  of  one  per  cent, 

Mjcamluatlons  and  ImjmirmeiitM.—  SVhcimver  the 
Commissioner  deems  it  necessary  for  the  protection  of  policy-holders, 
he  may  examine  into  the  condition  of  any  company  transacting  busi- 
ness  in  this  State. 

If  it  shall  appear  upon  such  examination  or  otherwise  that  the 
assets  of  any  fire  or  marine  company  having  a  specific  capital,  after 
deducting  therefrom  the  amount  of  its  liabilities  and  a  re-insurance 
fund  as  required  by  law,  do  not  amount  to  more  than  three-fourths  of 
its  capital  stock,  the  company  shall,  by  assessing  its  stock,  or  in  some 
other  way.  fully  repair  its  capital,  and  unless  it  do  so  within  three 
months  after  notice  from  the  Commissioner,  the  Commissioner  shall 
suspend  its  right  to  do  business  in  the  State. 

Whenever  it  shall  appear  that  the  net  cash  funds  of  any  life  insur- 
ance company  are  not  equal  to  its  liabilities,  including  its  premium 
reserve,  computed  as  required  by  law,  he  shall  give  notice  to  the  com- 
pany and  Its  agents  to  cease  the  issue  of  policies  within  the  State. 

Whenever  the  Commissioner  thinks  any  licensed  company  is  in 
failing  condition,  or  unsafe,  he  may,  on  reasonable  notice,  suspend  its 
right  to  do  business  in  the  State. 

Fire  and  Marine.  —  Every  stock  company  shall  possess  a 
bona  fide  paid-up  capital  of  at  least  two  hundred  thousand  dollars, 
well  invested  and  secured,  and  every  mutual  company  shall  possess 
cash  assets  of  like  amount. 

Annual  statements  shall  be  filed  on  or  before  the  3l8t  day  of  Jan- 
uary 'n  each  year,  and  shall  show  the  exact  condition  of  the  company 
on  the  preceding  31st  day  of  December.  Such  annual  statement  con- 
densed, shall  be  published  three  weeks  successively  in  some  daily  or 
weekly  paper,  printed  in  the  county  where  the  company  has  a  duly 
authorized  agent  or  takes  policies. 

The  reinsurance  fund  shall  be  computed  at  fifty  per  cent,  of  all 
premiums  on  existing  fire  and  inland  risks,  and  the  entire  premium 
on  outstanding  marine  risks. 

Life,  —  Every  company  must  possess  net  assets  to  the  amount  of 
one  hundred  thousand  dollars,  invested  in  or  secured  by  real  estate, 
bonds,  stocks,  and  other  available  securities. 

Annual  statements  shall  be  filed  on  or  before  the  thirty-first  day  of 
January  in  each  year,  and  shall  show  the  condition  of  the  company  on 
the  preceding  31st  day  of  December. 

The  basis  of  valuation  is  the  Actuaries'  or  Combined  Experience 
Table  of  Mortality,  with  interest  at  four  per  cent,  per  annum. 

I'he   Commissioner  accepts  a  certificate   of   valuation    from    the 


.^*aM»8aiMg#fe^8ail!a^te^»»^^t^e^w!^a^>!^■ 


fte 


MAINE. 


proper  omcial  of  any  other  Htalo  of  the  atnount  of  premivun  reHervo 
comnuttKl  upon  the  l»asiH  rciiuirci  by  law. 

Maine  hL  n     anti  rebate  law  similar  lo  those  o|  Massachusetts  and 

other  States.  ' 

I  Sr,-t,Hi'H  -Kvcry  company  must  annually  prof  re  from  the 
Con^f^Jire.  a  license/whicl/shail  e.xpin,  on  the  «rst  u.y  of  July  m 
each  year.     Amount  of  license  fee,  twenty  dollars. 

/,V/>n  For  airont's  licenses,  one  dollar. 

For  examination  of  companies,  the  a<:tual  expenses  mcurred. 

TfurOH  -Every  company,  on  or  before  the  3l8t  day  of  January, 
annSly,  shall  make\  retirn'under  oath  to  the  Insurance  C%>mm.H^ 
sioner,  s  ating  the  amount  of  all  premium,  received  m  tins  Sta  e  by 
»L  r-nninanv  durinu  the  year  on-iing  on  the  preceding  3l8t  day  of 
DecS  and  t  amount  to  be  .ledScted  ihorofrom  for  losses  >n  tins 
Sate  dur'  .g  the  year,  and  so  much  of  any  of  said  premui.ns  as  may 
be  returned  or  allowed  during  the  year  to  the  .usurer,  as  not  colh^cte.!, 

Ld  or"  arned      Huch  compa.iy  shall  pay  a  lax  of  two  per  cent,  upon 
tSe  balanceTf  such  premiun's  remaining  after  deductions  as  aforesaid 

on  or  before  May  first. 

I*.'H«/^#V'«.  — Every  agent  who  acts  for  any  cornpany  without 

procuring  a  lic-^B«  ^^^^  fhe  Commissioner,  shall  be  subject  to  a  pen- 

oltu  nf  not  more  than  fifty  dollars  for  each  offense.  . 

^?  anrcompany  or  its  agents,  after  notice  from  the  Commissioner 

to  susp.?dTts  business  in  tl^  State,  issue  any  policies  or  do  any  W 

ness  such  company  or  agent  shall  forfeit  not  exceeding  two  hundred 

dollars. 

ASSESSMENT    INSURANCE. 

Every  assessment  company,  as  a  condition  precedent  to  t'^e  jjans^ 
action  of^nisiness,  shall  deposit  with  the  Insurance  CommiHS  oner  a 
PPrtilied  coDV  of  its  charter;  a  statement  under  oath,  of  its  piesiaeni 
3   ecretary,  in  tbe  form  by  the  Insurance  Commissioner  required 
oflts  bSS  for  the  preceding  year;  a  -rt-Ticate,  under  oath  of  ^ 
president  and  secretary,  that  it  is  paying  and  f^'-.f  «/*?  Jf,  ™^°  e^^^ 
nrecedintr  has  paid.,  the  maximum  amount  named  in  its  policies  or  cer 
Eate"'  ff  a  certificate  from  the  proper  aiuhoMy  in  ^ts  ^lo-  Bta. 
that  corporations  of  this  St^te,  engaged  according  f«  ^^f^"  P^«;;^7"X 
this  act  in  life  or  casualty  insurance  on  the  assessment  plan,  are  egai  y 
entit^d  to  do  business  in  such  State;  a  copy  of  its  policy  or  cer  ificate 
and  aDPlication.  which  must  show  that  benefits  are  provided  for  by 
iessEtupo^  policy  or  certificate  holders;  evidence  satisfactory  to 
the  Insurance  Commissioner  that  the  corporation  accumulates  a  fund 

e'qtiaUt  aUtfmes  in  amount  to  not  ;-V^"".?ZThtslrac"  mt 
meut  on  all  policy  or  certificate  holders  thereci,  that  such  accumu 
Z\L  °s  permFtted  by  the  law  of  its  incorporation,  and  is  a  trust  for 

he  benefit  oT  policy  or  certificate  holders,  and  is  secur ly  invested. 
The  Insurance  Commissioner  is  made  the  authored  and  lawful 

attorney  for  such  corporation. 


mmmmm 


MARYLAND. 


57 


remiutn  renerve 
issacliuHetts  and 

roc 'TO  from  t.h«5 
t  day  of  July  in 

3  incurred. 

(lay  of  January, 
iu  ranee  CommiH- 
in  this  State  by 
liuK  3l8t  day  of 

for  losses  in  this 
remiuina  as  may 
■,  as  notcoUticted, 
vo  per  cent,  upon 
Lions  as  aforesaid 

company  without 
subject  to  a  pen- 

tho  Commissioner 
s  or  do  any  busi- 
ling  two  hundred 


dent  to  the  trans- 
e  CommiHsioner  a 
,h,  of  its  president 
nissionor  required, 
under  oath,  of  its 
;he  twelve  months 
its  policies  or  cer- 
ity  in  its  home  state 
o  the  provisions  of 
ent  plan,  are  legally 
policy  or  certificate 
e  provided  for  by 
ence  satisfactory  to 
iccumulates  a  fund, 
(ceeds  of  one  assess- 
that  such  accumu. 
and  is  a  trust  for 
Bcurly  invested, 
thowzed  and  lawful 


The  provision  in  regard  to  lifionses,  ngcnts,  and  brokers  are  the 
same  as  are  applicabio  to  other  iiiHuranci!  companies. 

No  corporation  shail  issue  a  poh(!y  or  citrtillcate  on  the  life  of  any 
person  more  than  Hi.xly  years  of  af,'('. 

Every  corporation  doing  busines^s  uiuU'.r  this  act  .shall  annually,  on 
or  before  tho  thirty-lirst  day  of  January,  return  to  the  Insurance  Oom- 
nii-saioner,  in  such  nianricr  and  form  as  he  shall  prciscrilic,  a  statcmont 
of  its  affairs  for  the  year  ending  on  tho  proccdiiig  thirty-lir.st  day  of 
December,  ami  the  said  ('ommi.Maioner,  in  person  or  by  deputy,  shall 
have  tho  powers  of  visitation  of  and  examination  into  affairs  of  any 
such  corporation  which  are  conferred  upon  him  in  the  case  of  life  in- 
surance companies. 

The  fees  for  filing  statements,  certificates,  or  other  dofuimonts,  or 
for  any  service  or  a<rt,  of  the  Insurance  Commissioner,  aiid  the  penal- 
ties for  any  violation  of  this  act  shall  be  the  same  us  provided  in  the 
ca.se  of  life  insurance  companies. 

Reciprocal  provision. 


MARYLAND. 

[Legialuluru  mseti  biennially.    Next  lemilon,  Jiinoary  3, 1690.] 

J.  Predkrick  C.  Talbott,  Insurance  Commissioner,  Annapolis,  Branch 

OflBco,  Bai.timoue. 

Aflmitision. —  Every  company  desiring  to  transact  business  in 
this  State,  before  adniLssion  must  file  with  the  Insurance  Commis- 
sioner— 

A  certified  copy  of  its  charter  or  deed  of  settlement. 

A  certificate  from  the  Insurance  Commissioner  or  other  proper 
official  of  the  State  or  nation  where  the  company  is  organi;5ed,  showing 
that  the  company  is  entitled  to  assume  risks  and  issue  policies. 

A  statement  verified  by  the  signature  and  oath  of  the  president,  or 
vice  president  and  secretary  or  actuary,  showing  the  condition  and 
affairs  of  the  company. 

A  written  stipulation,  duly  authenticated  by  the  company,  agree- 
ing that  any  legal  process  affecting  the  company  served  on  the  agent 
specified  by  said  company  to  receive  service  of  process  for  the  com- 
pany, shall  have  the  same  effect  as  if  served  personallj  on  the 
company. 

If  such  company  should  cease  to  maintain  an  agency  in  thi  Jtato, 
process  affecting  such  company  may  be  thereafter  terved  on  the  Com- 
missioner. 

Such  stipulation  cannot  be  revoked  or  modified  by  tho  company, 
except  that  a  new  one  may  bo  substituted. 

A  certificate  of  the  appointment  of  a.  general  agent  for  this  State, 
and  a  list  of  agents  authorii;ed  to  transact  business  for  the  company. 

Certificates  und  Affents. —  Every  company,  upon  complying 
with  the  requirements  of  law,  shall  receive  from  the  Insurance  Com* 


fWM»aUSBWk!><M'iBWM«bA#«&t.W(W«8t»a!^ 


68 


MARYLAND. 


rniBHioncr  a  cortincaU,  of  authority  or  license      E^^-'y  *»f";;,"^  .f'^'i^i^ 

which  the  company  is  located,  and  if  ho  is  not  satisnod  with  the 
Tnfor matbn  o  teinod  from  «uch  InHuranco  CommiBmoner  or  the  offl- 
corsTt  0  cm  ipany  that  the  condition  of  the  company  is  such  as  to 
warranttm  i7Jemittin«  it  to  transact  business,  he  shall  make  an 

'^'"I'f  ::;^le"  of  ITiTcSpany.  after  being  char«ed  with  its  proper 
liab  itieJand  a  reinsurance 'fuifd  a«  required  by  law  ^js  >ts  ca^al 
stock  impaired  to  the  extent  of   twenty  five  per  cent.,  the  Commis 

oner  haU  gVve  notice  to  the  company  to  make  good  its  wl|ol«  capit^ 
stock  within^sixty  days  ;  and  if  this  bo  not  done  he  shall  require  the 
com  nan  V  to  cease  to  do  now  business  within  the  btate. 
'Tafiy  life  company  domg  business  in  this  State  ms  not  on  hand 
assets  equal  to  the  net  value  of  all  ts  polices  m  force  after  all  the  oU  or 
debts  of  the  company  and  claims  against  it  have  been  provuJca 
for  exclusive  of  capital  stock,  the  Commissioner  shal  publish   ho  fact 

hat  the  then  existing  condition  of  the  company  is  below  ho  standard 
oKiV  required  b?  the  laws  of  this  State,  -f.  "'^  ^^^^  *^« 
company  to  at  once  cease  doing  new  business  within  the  State. 

m^t' and  Marine.— ^^very  stock  company  must  possess  a 
capiSock  of  auSont  hundred  thousand  dollars.  Annual  stat^^ 
its  must  be  filed  on  the  first  day  of  January  in  -f^y^^';.^''^^^ 
Sy  days  thereafter,  and  shall  show  the  affairs  and  condition  of  the 
company  on  the  preceding  31st  day  of  December 

The  Insurance  Commissioner  annually  at  the  t™®  o\;,««"^°f 
license  shall  publish  an  abstract  of  the  annual  -tat^rnent  of  each  om- 
pany  doing  business  in  this  State  once  a  week,  for  three  successive 
weeks,  in  a  daily  newspaper  published  in  Baltimore. 

E^h  company  shall  publish  in  another  paper  such  f^sti act  three 
consecutive  times,  such  publication  to  be  made  the  first  time  prior  to 
Z  first  daVofMkrch  in  each  year.      Both  publications  to  be  paid  for 

^^  ?hTe"Lurance  fund  is  computed  at  fifty  per  cent,  of  all  premiums 
on  unexpired  fire-risks  having  less  than  one  year  to  run,  and  a  pro 
rL  of  aff  premiums  received  on  unexpired  fire-risks  having  one  year 
or  lonLr  to  run  •  all  the  premiums  received  on  unexpired  marine  and 
^nuTrlslrfoVle^s  than^ne  year,  and  B-ty  per  cent,  of  premium 
upon  yearly  risks  and  risks  covermg  more  than  one  passage  not 
terminated. 

Lifc-Evevy  companv  must  possess  well-invested  assets  to  tha 
amount  of  one  hundred*^  thousand  dollars.     Annual  statement's  must 
brfited  on  the  first  day  of  January  in  each  year,  or  within  sixty  days 
thereafter  and  shall  show  the  condition  oi  the  company  on  the  pre -, ■ 
ced  ng  Sl^t  Say  of  December.    Must  publish  annual  statement  same 


MARYLAND. 


»• 


agent  or  solicitor 
!  a\ithority.  All 
it  in  each  year. 

Whenever  the  In- 
cy  or  the  correct- 
icate  such  doubts 
ler  of  the  State  in 
atisfied  with  the 
uioner  or  the  offl- 
miiy  is  such  as  to 
he  shall  make  an 

0d  with  its  proper 
kw,  has  its  capital 
mt.,  the  Coininis- 
1  its  whole  capital 
B  shall  require  the 

,0. 

3  has  not  on  hand 
after  all  the  other 
re  been  provided 
ill  publish  the  fact 
)elow  the  standard 
e  shall  require  the 
the  State. 

ly  must  possess  a 
:s.  Annual  state- 
ach  year,  or  within 
d  condition  of  the 

0  time  of  issuing 
ment  of  each  com- 
)r  three  successive 

uch  abstract  three 
5  first  time  prior  to 
tions  to  be  paid  for 

?nt.  of  all  premiums 
to  run,  and  a  pro 
ks  having  one  year 
expired  marine  and 
r  cent,  of  premium 
n  one  passage  not 

■ested  assets  to  tha 
lal  statements  must 
ir  within  sixty  days 
jompany  on  the  pre-, 
ual  statement  same 


as  in  flro  and  niarino,  except  that  the  (irst  pul)lication  muHt  he  made 
prior  to  the  (irst  day  of  April  in  oarh  year. 

Valuations  aru  ba-ted  on  the  Amuricaii  Kxperinnco  Tabl'i  of  Mor- 
tality, with  interest  at  four  and  one-iialf  per  lent,  per  annum. 

The  Coniinissionor  is  re((uired  to  accopt  the  valuation  of  the  Com- 
missioner of  the  State  where  the  company  is  located  or  in  which  it 
elects  to  have  its  policies  valued,  if  such  valuation  be  made  on  sound 
and  recognized  princ'ples  and  a  basis  not  Iokm  tlian  that  estabiiuhnd  by 
this  State.  Tlio  company  shall  furnish  the  Commissioner  a  certificate 
from  the  Commissioner  of  such  State,  showing  the  value  of  all  out- 
standing policies  of  such  company  on  the  preceding  .list  day  of 
December,  and  stating  that  after  all  debts  and  claims  of  the  company 
are  provided  for,  the  company  possesses  asscds  e<in«l  to  the  net  value 
of  all  its  policies  in  force,  and  is  authorized  to  do  business  in  its  own 
State.  Any  company  that  fails  promptly  to  furnish  such  certificate 
shall  furnish  a  detailed  liat  of  its  policies  and  securities. 

Any  company,  association,  partnership,  or  corporation,  granting 
insurance  on  the  lives  of  persons  imder  the  age  of  ten  years,  must 
value  all  its  policies  issued,  on  the  lives  of  per.sonB  under  the  age  of  ten 
years,  in  accordance  with  the  general  legal  rules  for  the  valuation  of 
life  insurances  policies,  based  on  the  mortality  table  known  as  Farr's 
number  three,  for  imilus;  provided,  that  in  no  case  the  valuation  for 
the  said  policies  on  the  lives  of  persons  under  ton  years  of  age  shall  be 
less  than  eight-tenths  of  ihe  weekly  gross  or  office  premiums  thereon, 
with  no  credit  for  deferred  net  premiums. 

Each  company  8ht\ll  annually  file  a  certificate  showing  a  deposit  of 
one  hundred  thousand  dollars,  in  proper  securities,  with  the  chief 
financial  officer  of  the  State  where  the  company  is  organized,  for  the 
benefit  of  all  its  policy-holders. 

Companies  doing  industrial  business  must  take  a  bond  from  each 
agent  or  solicitor  of  not  less  than  $50. 

Foreign,  —  Annual  statements  of  the  business  and  condition  of 
the  company,  other  than  that  relating  to  its  affairs  in  the  United 
States,  shall  be  filed  on  or  before  the  first  day  of  July  in  each  year, 
and  shall  show  the  condition  of  the  company  on  the  preceding  31st 
day  of  December.  In  calculating  the  ro-insurance  fund  to  determine 
the  right  of  any  such  company  to  do  business  in  this  State,  the  same 
shall  be  computed  only  upon  its  business  in  the  United  States.  "  The 
basis  "  of  such  reinsurance  fund  so  required  shall  be  the  assets  of  such 
company  held  and  invested  in  the  United  States. 

Fee»,  —  For  filing  certified  copy  of  charter,  twenty-five  dollars. 

For  filing  annual  statement,  twenty-five  dollars. 

For  each  agent's  certificate  of  authority,  ton  dollars;  but  sub-agents 
or  solicitors  appointed  by  the  general  agent  of  a  life  insurance  company 
in  this  State  shall  pay  for  their  certificates  of  authority  two  dollars. 

For  each  abstract  of  annual  statement  for  publication,  two  dollars, 
also  the  actual  net  cost  of  such  publication. 

For  every  copy  of  any  paper  filed  in  the  department,  twenty  cents 
per  folio;  and  for  affixing  the  official  seal  to  such  copy  and  certifying 
the  same,  one  dollar. 


-■  ^i^t^imkiSiimti»sMi^xmsi>." 


90  MASSACHUSETTS. 

For  viiliiinn  \mhcm  of  lif«  inBuranco  cornpftnies,  thirty  dollar*  por 
million  of  iimuran.^.s  or  any  fraclioii  th.'roof. 

For  omciftl  cixuiiiiniiUoii  of  coinpiiiiiort  umlur  llim  iict,  tUo  ttctum  ex 
l^nacH  inc.urroii. 

ToxrM  OHd  /./<v.iM<'-.-Kv«ry  company  upon  V^^^ 
from  th«  C.uuniHsionor  a  crtillcatn  of  authority  or  iicohso  ahull  pa> 
into  tho  Htuto  treasury  annually  tl...  sun.  ..f  two  hun<lr...l  S'""'^''«; /;";' 
proiK^rtionatoly  for  a.iy  fraction  of  llio  ymr  .t  shall  .  o  •'"«"'7  '"'''« 
State  prior  to  tho  thirty  (irHt  day  of  December  next  after  it«  admms  on. 

The  Koneral  agent  or  chief  accounting  oflicor  of  each  company  shall 
report  under  oath  to  tho  Insurance  Com.niHmoner  the  gross  premiums 
received  and  UmseH  paid  in  thiH  State  during  tho  last  license  year,  and 
Buch  company  hIuiU  pay  into  the  treasury  a  tax  of  one  and  ono-lia if 
por  cent,  upon  sue.h  premiumH,  less  Huch  losses,  not  includmg  in  such 
losses  endowments.     Hticiprocal  provision. 

j»f.,tantrH.—  A.ny  {wrson  or  company  violating  any  of  the  pro- 
visions of  law  relating  to  insurunc!  shall  be  subject  to  a  hue  not  less 
than  one  hundred  dollars  nor  more  than  one  thousand  dollars. 

AHSE88MKNT     IN8UBANCE. 

Assessmont  companies  of  oth(!r  States  aro  required  on  admission 
to  comply  with  all  tho  foregoing  requirements  relating  to  life  insur- 
ance companies  so  far  as  they  may  bo  applicable. 


I 


MASSACHUSETTS. 

tLeBli-lature  mceU  unniially.    Next  ecufioii,  .lanuary,  ItSO.l 
Gkoroe  S.   Mkrkim,,   Insurance   Connnisstoncr,   Boston. 
AdmlHHion.—  ^^very  company  desiring  to  transact  business  in 
thie  State,  before  admission  must  file  with  the   Insurance   Commis- 
sioner   ,    1  .-C    J 

A  copy  of  tho  charter  of  the  company  duly  certihed. 

A  statement  signed  and  sworn  to  by  the  President  and  Secretary 
of  the  company,  in  the  form  prescribed  for  annual  statements 

Every  company  shall  appoint,  in  writing,  the  Insurance  Gomims- 
sioner  of  this  State,  or  his  successor  in  office,  to  be  its  true  and  lawful 
attorney  in  this  State,  upon  whom  any  process  may  bo  served  with  the 
same  olTect  as  if  the  company  existed  in  the  State.  A  copy  of  such 
writing  shall  be  filed  in  the  ofiBco  of  the  Insurance  Coinmissio'' p.r. 
Fidelity  insurance  companies  can  bo  admitted  to  this  State  if  posses  ?cl 
of  not  less  than  $200,000  capital.  The  capital  must  be  fully  paid  up 
in  cash  and  must  be  unimpaired. 

CertMcates  and  A{fenm.—  ^ny  person  not  a  duly  licensed 
insurance  broker,  who  solicit.^  insurance  on  behalf  of  any  insurance 
company,  or  transmits  for  a  person  other  than  himself  an  application 


MASSACnUHETTS. 


01 


irty  (lollnrH  por 
t,  lUo  ttcUiftI  «x- 


ipdii  piociiring 
icdhw,  HhttU  pay 
nxl  iloUiirH,  ttiitl 
I  l)UHiiioH8  in  the 
iv  its  adiiiiHsion. 
h  company  Bliall 
j^ross  promiuinB 
ic(\n8«»  yoar,  and 
no  and  ono-half 
eluding  in  hucIi 

;  any  of  the  pro- 
to  a  fine  not  less 
1  dollars. 


sd  on  adnuBsion 
ing  to  lifo  insur- 


lti90.1 

•,  Boston. 

msact  business  in 
suranco   Oommis- 

ied. 

mt  and  Secretary 
atonients. 
isurance  Commis- 
Is  trmi  and  lawful 
be  served  with  the 
A  copy  of  such 
ce  Commissio'^' Rr. 
I  State  if  posseb  ^d 
;  be  fully  paid  up 

lot  a  duly  licensed 
'  of  any  insurance 
self  an  application 


for  or  a  policy  of  inHiiranco  to  or  from  such  company,  or  olTors  or 
iiHHumoH  to  a«;t  in  tlio  nt*gotiation  of  such  iiiHiiranco,  hIuiII  b<(  tinoinud 
an  insurancii  agt'tit  within  the  intent  of  ihoHo  Htatutt'H,  and  Hliali  thon-by 
lioiomd  liabiii  to  all  thi»  dutioH,  n)<|uiHitionH,  liabilitioH,  and  |M)nalti«H  to 
which  an  agent  of  such  company  is  Hubjeot. 

An  insurance  agent  shall  bo  jwrsonally  liabh)  on  all  contracts  of 
inRuranco  unlawfully  made  by  or  through  him,  directly  or  indirectly, 
for  or  in  behalf  of  any  company  not  authorized  to  do  businoss  in  the 
Commonwealth. 

An  insurance  a^ent  or  broker  who  acts  for  a  person  other  than 
himself  in  negotiating  a  contract  of  insurance  by  an  insurance  com- 
pany dhall  for  the  purpose  of  receiving  the  promiiun  therefor  bo  held 
to  be  the  company's  agent,  whatever  conditions  or  stipulations  may  be 
contained  in  the  policy  or  contract. 

No  agent  shall  make  or  procure  to  be  made,  or  act  or  aid  in  any 
manner  in  the  negotiation  of,  any  insurance  with  such  company  until 
he  shall  procure  from  the  insuratice  commissioner  a  certificate  of 
authority  so  to  do  which  shall  state  in  substance  that  the  company  is 
authorized  to  do  business  in  the  Commonwealth,  and  that  tlus  jierson 
narned  therein  is  the  constituted  ogent  of  the  company  for  the  trans- 
action of  such  business.  Such  certilicate  shall  continue  in  force  until 
the  first  day  of  April  next  after  its  issut^,  and,  by  renewal  thereof 
before  the  first  day  of  April  of  each  year,  until  revoked  by  the  com- 
missioner for  non-complianco  with  the  laws,  or  until  the  appointment 
of  the  agent  is  revoked  by  written  notice  from  the  company  to  that 
effect  filed  with  the  insurance  commissioner.  While  such  certificate 
remains  in  force  the  company  shall  be  bound  by  the  acts  of  the  per- 
son named  therein  within  his  apparent  authority  as  its  acknowledged 
agent. 

Every  person  acting  for  a  foreign  insurance  company  shall  exhibit 
in  conspicuous  letters,  on  the  sign  designating  his  place  of  business, 
the  name  of  the  State  or  country  under  whose  authority  the  company 
ho  represents  has  been  incorporated  or  formed.  And  said  company 
and  agent  shall  also  have  printed  in  largo  type  the  name  of  such  State 
or  country  and  the  kind  of  ofTico,  whether  chartered  or  formed  as  a 
mutual  or  stock  company,  upon  all  policies  issued  to  citizens  of  this 
Commonwealth,  on  all  cards,  placards,  and  pamphlets,  and  in  all  ailver- 
tisements  published,  issued,  or  circulated  in  this  Commonwealth  by 
them  or  him,  relating  to  the  business  of  such  company. 

No  person  shall,  as  agent  of  any  foreign  insurance  company, 
make  or  procure  to  be  made  any  insurance  in  this  Commonwealth, 
until  ho  has  given  a  bond  to  the  Treasurer  of  the  Commonwealth, 
with  sufficient  sureties,  to  be  approved  by  the  Insurance  Commissioner, 
whose  approval  shell  be  indorsed  thereon,  in  the  sum  of  five  hundred 
dollars,  with  condition  that  he  will  make  all  the  returns,  which,  by  the 
provisions  of  the  laws  of  this  Commonwealth,  he  may  be  required  to 
make  according  to  the  requirements  of  such  !n.ws.  Any  person  mak- 
ing insurance  or  soliciting  or  procuring  insurance  to  be  made  in  viola- 
tion of  the  provisions  of  this  section  shall  be  punished  by  fine  not 
exceeding  one  thousand  dollars;  provided,  that  agents  in  this  Common- 
wealth of  foreign  life  insurance  companies,  who  are  accountable  to 
any  agent  therein  for  premiums  received,  need  not  give  such  bond. 


«3 


MA8flACnnHETT8. 


may  i»t  any  lirmt  oxamiiin  llu'  uffairn  ..f  any  .•..iitpRuy  transiicliiiK  \nm 
turns  in  tliii  Htiito,  Rnii  iu  ilireciorfi.  olliouni,  und  ftgonti*  iui<li»r  oath  in 
leljitioa  tt>  itiJHtTai™.     ll»  may  for  HuHlcinnt  oause  r«;okti  tint  CMrtill- 
cal«  of  authority  grantotl  on  Ixilialf  of  any  corFi[»any. 

If  tht)  a«»iet8  of  any  (lr«  <;oni|iany,  aftor  sM-ttirig  mula  a  «uni  m\ai%l 
to  it«  oiiliilanfling  lt*halltiei  and  n«  inMurancn  fuixl,  do  not  amount  to 
moro  tlmn  thro«-fourtii»  of  its  capital  stock,  tlui  comimny  «ball  repair 
itti  capital  to  the  original  amount,  and  failing  to  do  »o  «hall  not  be  per- 
mittiul  to  do  huHinfjiw  in  this  Stato. 

If  th«  aiw«!t«  of  any  lif*i  (!om|)any  are  not  ckjukI  to  tta  liabilitiw  and 
premium  rew^rvo  eo»ii>iii«ti  as  r»!quiriMt  by  law,  th«  oommisHionor  »iliail 
give  notice  to  tho  com()ftny  to  diwiontinuo  Min  i«mio  of  new  poticioH. 

Fire  and  Mftrtu*'.—  Kvery  atock  flr«  company  uhall  pivmwH  a 
capital  paid  up  of  tiot  loss  than  two  hundred  thomtand  <l<>llar«. 

Kvory  Htook  tnarino  or  tire  and  marine  company  aliail  [M)SBe8!i  a  paid- 
up  capital  of  nut  leaH  llian  three  hundred  ihoUHand  tlollarH.  Kvery 
mutual  lire  company  most  posseSH  availalde  funds  over  ami  above  all 
liabilitieB  equal  to  fifty  per  contum  of  all  prBmmmB  received  iucaHh  on 
|)olicie»  in  force,  and  have  premium  obligations  liable  to  astfieMment 
(iinounling  t.i  at  least  tliw  cash  {iremiums  receivml. 

No  company  uhall  insure  in  a  single  hazard  a  larger  sum  than  one- 
tenth  of  its  not  asset*. 

Annual  HUteniftrita  muut  bo  filed  on  or  before  the  fifteenth  day  of 
January  in  each  year,  showing  the  condition  of  the  cam|)any  c»n  the 
prt'Cdding  thirty-first  day  of  Deceml^r.  The  Commissioner  for  cansc 
may  extend  tho  time  tor  llling  sucii  statement  to  February  fifteenth. 

The  reinsurance  fund  shall  be  compuU'd  at  fifty  per  cent,  of  the 
premiums  ret^uivud  on  fire  and  inland  risks  and  full  amodnt  of  premi- 
ums received  on  marine  risks,  except  upon  yearly  rska,  ufwin  which 
the  reserve  is  Hi.tty  per  cent. 

The  may*)r  ami,  aldermen  of  tho  several  eitiea  and  ,he  selectmen  of 
towns  having  more  than  four  thousand  inhabitants  shall,  before  the 
first  day  of  October,  in  the  year  eighteen  hundred  and  sovonty-three, 
divide  their  respective  cities  and  towns  into  fire  insurance  districts, 
and  immediately  thereafter  file  plana  and  specifications  thereof  with 
tho  Insurance  Commissioner,  and  the  same  shall  Ihj  subject  to  his 
approval ;  and  if  he  disapproves  the  same,  tho  mayor  and  aldermen  or 
selectmen  shall  forthwith  redistrict  such  city  or  towii  in  conformity  to 
his  requirement.  And  no  company  or  association  transacting  the 
business  of  fire  insurance  in  this  Commonwealth  shall  take  or  Ixavo 
at  risk  on  property  other  than  dwelliug-housos,  farm  buildings,  and 
their  contents,  in  any  town  or  such  fire  insurance  distri-jt  of  a  city  or 
town  thtirein,  an  amount  exceeding  its  net  assets  ava.iable  for  the  pay- 
ment of  lossos  in  Massachusetts  ;  and  in  computing  the  assets  of  such 
company  or  association  insuring  property  upon  thi>  mutual  principle, 
its  proinium  notes  shall  be  included.  When  from  any  cause  the  net 
assets  as  aforesaid  of  any  such  company  or  a-ssociation  rihall  be  reduced 
to  a  6um  less  than  tho  amount  taken  or  held  at  risk  in  any  town,  or 
any  such  fire  insurance  district  as  provided  in  this  section,  such  com- 
pany or  association  shall  forthwith  either  cancel  and  return  to  the 


lMCotiimiMion«r 
tranaiicliiij^  himi- 
in  uiuitT  oalli  ill 
13  ;ok(i  tint  curtitl- 

Mtdn  »  aurn  «<|aitl 
l«)  not  Hinuuiit  to 
{i»ny  «hall  r«|mir 
>  shftll  tiot  l»«  i)er- 

I  Ita  liabilitioN  mid 
ommwxionor  nliall 
if  now  poticioH. 

tny  mliull  p<>i«ii«wM  a 
lU  (lullara. 
lall  {M)»86HHapai(l- 
i  doIlaiH.  Kvery 
ver  ail' I  above  all 
ecoivtid  iu  chhIi  on 
blu  to  aMHOMinent 

^er  BUiu  than  one- 

e  flftoenth  day  of 
e  conijmny  on  the 
liHsionor  for  c^anec 
liruary  fifteenth, 
y  |Hir  cent,  of  the 
ainodnt  of  prenii- 
I'sika,  ui>ou  which 

d  -he  selectmen  of 
8  shall,  beforo  tho 
and  »evonty-threi', 
Dsurance  districts, 
tions  thereof  with 
be  subject  to  his 
>r  and  aldermen  or 

II  in  conformity  to 
n  transacting  the 
ihall  lako  or  have 
rm  l)uikling8,  and 
istri'jt  of  a  city  or 
fc.iablo  for  the  pay- 

the  assets  of  sncb 
I  mutual  principle, 

any  cause  the  net 
on  shall  be  reduced 
sk  in  any  town,  or 
section,  such  com- 
and  return  to  the 


MASBACHUMKrrH, 


03 


holder  the  unoarnod  portion  of  thfl  promiuiii  iii  "»  fwlioifm  iip<in  property 
in  jiuth  lurrilory  to  an  auionnl  mjual  to  th«  <iiuen!nie  b<itw«s>n  lhi5  not 
itflMta  and  the  amount  taken  or  hold  at  risk,  m  aforwiaid,  or  ♦'ll«jct  rem 
hurance  U{ion  such  property  for  a  like  mm  ;  and  no  such  cftnoellfttlon 
Mhatl  take  place  exci-pt  aftur  notice  to  the  huhU'r  of  the  |M)licy.     Every 
Niioh  corajMiny  or  attaociation  Nhall  annually,  tri  or  Iwfont  the  llfte«<ntli 
.'.ay  of  January,  return  to  the  Inuuranco  Comminxioner  a  itworn  Htitte 
ment  of  the  emounl  taken  or  hold  at  risk  In  ea<;h  town  or  (In-  u.s*ur 
luice  dlstricit  of  a  city  in  thin  (Commonwealth,  on  the  thirty-tlrxt  day  of 
Dotemlier  next  prinjeiling.     The  Inminimo  CommiHuioiier  may,  wIumi 
ever  he  deemst  it  exjK<(lient,  nHjuire  of  naid  compnnieH  or  associations 
such  a  Htatemunt  or  any  part  thereof ;  he  may  bIho  rei|uire  such  other 
information,  and  adopt  such  ruies  and  rej^ulations  as  he  may  deem 
pro|M)r  and  necessary  to  procure  reSialile  information  upon  thismibjoct. 

No  insurance  company  shaU  knowingly  iMsue  any  tire  insurance 
jHilicy  iip<»n  nrofwrty  withm  this  Commonwealth  for  an  amount  which 
together  with  any  oxiHting  insurance  thereon  exceeds  the  for  value 
of  the  property,  nor  for  a  longer  term  than  ji»'v'on  years. 

In  all  inNuittiice  agaiiiHt  loss  by  fire,  the  conditions  of  the  insurance 
shall  be  statod  in  the  body  of  the  policy,  and  no  conditions  not  so 
stated  Mhall  be  consitleretl  it  purl  of  the  contract. 

Whenever  any  company  advertises  its  a-wi'tM  it  shall  in  the  same 
connection  and  with  «'qual  coniipicuousnosri,  advertise  its  liabilities,  to 
be  determined  as  requimd  in  the  anniiiil  statement. 

All  advertisemenis  of  capital  shall  show  the  capital  that  has  been 
actually  paid  up  in  cash. 

PolicloH,  renewals,  signs,  circulars,  cards,  or  other  moans  of  public 
announcement  are  held  to  be  advertisements. 

No  oral  or  written  miwrepresentation  made  in  the  negotiatiou  of  a 
contract  or  policy  of  insurance,  by  the  assured  or  in  his  behalf,  shall 
bo  deemed  material  or  defcmt  or  avoid  th«»  iiolicv,  or  prevent  it« 
attaching,  unless  such  miHropresontation  ia  made  with  actual  intent  to 
deceive,  or  unlosn  the  matter  misrepresented  increnses  the  risk  of  loss. 

Mutual  insurance  companies  may  b*i  authorized  to  issue  policies  in 
this  State  if  they  have  net  cash  funds  equal  to  th6so  roijuired  of  stock 
compHnies. 

No  fire  insurance  company  authorised  to  issue  policies  in  this  com- 
monwealth, shall  issue  any  policy  other  than  the  standard  form 
adopted  by  the  legislature,  excepting  that  every  such  ^•oin{)any  may 
insert  any  provisions  varying  from  the  provisions  of  the  said  stAndard 
policy,  provided  such  provisions  are  printed  ■  separate  slips  or 
riders,  in  tvpe  of  size  not  smaller  than  long  primer,  and  are  accepted 
by  the  insured;  and  that  tvery  such  slip  or  rider  is  signed  by  him 
as  well  as  by  an  agent  or  ofBcer  of  such  company  duly  authorized 
thereto. 

This  law  does  not  prevent  any  company  authorized  to  insure 
against  damage  by  lightning  from  adding  in  the  clause  in  said  stand 
ard  policy  enumerating  the  perils  insured  against  the  words  "also  any 
damage  bv  lightning,  whether  fire  •»nsue8  or  not,"  and  also  from  add- 
ing in  the"  clause  of  said  policy  providing  for  an  apportionment  of  loas 
in  case  of  other  insurance,  the  words  "  whether  by  fire,  lightning,  or 
both." 


I 


MAHMArniraKTi'a 


ODnip»nl)*a  iloirig  l»iiMin<«M  in  MiiMiichittKttii  Aro  not  |mrmtu««l  to 
roinaiire  mk»  iti  immiiliitrizfti  ((impiiMiiiii.  tor  vioimion  of  thin  pn>- 
viitiou  the  ju'iialty  m  llvn  Kiiiiilrit<|  .|.ill»r«. 

All  mnlnetMot  iiimiriMii'M  <mi  projMirly  In  MmwuchuwlU  «lmll  Im 
(liM>ni<><i  li»  li«  tiri»«lti  ibiTnin. 

If  tiiiy  reinHfimriro  In  ni<Kotmt<<|  by  any  comimny,  other  th»n 
iliidUKJi  tln«  Ik'hiiwhI  rniiiiU'Mt,  »K«'nlit,  no  t|iMlu«"lion  tluTofor  hIihII  It" 
umilit  upon  tliu  tax  rotnrnit. 

f,iff, —  Kvory  company  rni»«t  ponf  mh  availalilit  citHli  fnmln  to  tlio 
HUiiMinl,  of  on«i  liiin<ir«(l  iIioiihhixI  ilollum. 

Anmiul  KtHtiMiH'iitK  Miiutt  Imi  Hlod  on  or  lw»for«'  llm  lifti-onlh  iliiy  of 
.liinutiry  in  fiu'li  y«nr,  nliowinn  tlu'  coinlition  <»f  the  coniiMiny  on  tli« 
pn-ccilnii  tlilrly-llrHt.  day  of  Hcf.'inlxT.  Tln"  CommiKHioniT  may  oX" 
tend  tin- tiniM  for  lltinK  iiiiiniiil  hiiid'iih'ntx.  'I'lin  OonimiHwioiior  iw  ri»- 
(piin'd  t<i  ftnmmlly  caU-uluUi  tliH  prcHunt  vnliio  of  ail  imiUch'n  in  com- 
nanioM  tmn«iitlinK  ImsinnHx  in  thm  Stiit.-.  Tim  Immn  ..f  mnli  sttluation 
m  flio  Aftnaru-H'  or  Comhinwl  Kx|M'rifnf«;  TabU'  of  Mortality,  with 
intnri'Mt  at  four  jmt  <«'nl.  \»<i  anniitn. 

in  valuing  the  e^^m^ln  which  (!oin|ww«<  iho  ltiK;.l  nwrve  <»f  ft  lif« 
inmiranro  ntinpany.  tli«  mal  imtato,  t\w  ImukU  iiiul  stinkn  whall  Iki  taknn 
at  Hindi  a  viiluo  thiit  tim  avoranc  animal  infoiiio  Ihcrcof  nhall  not  b»i 
U'»M  than  four  por  coiit.  of  tlm  valHiilioii;  and  if  am  hmmiI  or  invoxt- 
niont  in  roiiditiotind  u|»on  a  rate  of  inUmmt  of  I^sh  iluiii  Imir  p«r  wnt, 
annually,  Hindi  iimhoI  or  inv«Htnmnt  mIiuII  Im  rulod  iit  iIh  vulim,  ooniiid- 
ering  the  actual  inconui  and  tinui  it  haw  to  run,  m  tint  oipiivalenl  of 
a  four  pir  cent,  invontnicnt;  loaim  and  croditH  shall  not  bo  allowod  for 
inorti  tlian  thoir  ftt<t)  valuo,  nor  hIuiII  any  aswjt  or  invi-Mtniont  b«) 
appraiHt'd  for  nior*-  than  its  markt't  valuo  Thix  (danno  Nliall  takn 
olTiJCt  on  tlu)  thirty  lirnt  day  of  Doconibor,  in  tlio  yuar  one  thousand  oif^lit 
hundred  and  oi^hty-nino. 

Kort'inn  lifo  coin|)anics  inuHt  liuvo  and  kot-p  on  dojXiBit  or  in  the 
haiidH  of  truBtcH's  in  tho  United  .StatoH  an  amount  o(|ual  to  the  nut  valuo 
of  all  itH  polu'iort  in  tho  Unitod  HtatoH  and  not  Ichb  than  two  hundroil 
thouHand  dollare. 

No  life  insuranco  company  doinj;  busincHH  in  MaHHachuHottH  Mhall 
mako  or  portnit  any  diBtinction  or  diw^riinination  in  favor  of  in<livid- 
ualH  botwoon  iiiHurantH  of  tho  «aino  clas8  and  equal  expectation  of  life 
in  tho  amount  or  payment  of  preniiuiiiHor  rates  charged  for  policies  of 
life  or  endowAiont  insurance,  or  in  tho  dividends  or  other  bonelits 
payable  thereon,  or  in  any  other  of  tho  terms  and  conditiouH  of  tho 
contracts  it  makes  ;  nor  shall  any  such  company  or  any  agent  thereof 
make  any  contract,  of  insurance,  or  uareoment  as  to  such  contract, 
other  than  as  plainly  expressed  in  the  policy  issued  thereon;  nor  shall 
any  such  company  or  agent  pay  or  allow  or  offer  to  pay  or  allow  as 
inducement  to  insurance,  any  rebate  of  premium  payable  on  the  policy, 
or  any  special  favor  or  advantage  in  tho  dividends  or  other  benefit  to 
accrue  thereon,  or  any  valuable  consideration  or  inducement  wliatover 
not  specified  in  tho  |X)licy  contract  of  insurance. 

No  discrimination  shall  bo  made  on  account  of  tho  color  of  appli> 
cants  for  insurance. 

Admitted  companies  shall  make  contracts  of  insurance  upon  livoa 


MASHACniTflRTTfl. 


II 


not  |Mrmittit«l  tn 
ttinn  uf  thia  prt>- 

;lllU<^ttli  iihilll  Ixi 

itriy,  nthor  thmi 
h«<ref(>r  nIihII  (>" 


;»mIi  fiimlM  to  thn 

t  nftiHsnth  iluy  cif 
<-uiii|)any  on  tliv 
liMMidticr  mtiy  ax< 
iiimiHciotH'r  in  ro- 

[lulicii'M  ill  ooiii- 
of  mull  valuation 

Mortality,  with 

roM^rve  of  a  iif« 
■kn  Mhall  Ui  tnlcon 
■rcof  Hliall  not  b»i 
iisHt't  or  iiive«t- 
iuii  ioiir  ptii*  t'ont, 
its  vuliiii,  cormid- 
llin  <!(|llivul(Ult  of 
i(»l  1)0  allowt!*!  for 
ir  invcHtmont  bo 
claiiMf  nIiiiII  takit 
no  thmiHand  oif(lit 

depoBit  or  in  the 
nl  to  thfl  not  valiio 
han  two  humlrnd 

aHsachuBottH  shall 
favor  of  in<iivid- 
xpoctation  of  life 
5«d  for  policies  of 
or  othor  bonclits 
conditions  of  the 
my  agent  thereof 
to  such  contract, 
hereon;  nor  shall 
o  pay  or  allow  as 
ible  on  the  policy, 
>r  other  benefit  to 
icomont  whatever 

ho  color  of  appli- 

irance  upon  livds 


or  property  In  ManMchuHottii  only  by  lawfully  ooiutitutu*!  and  UchumU 
rratdnnt  agt<nt». 

Fotwian.  -  Kv«ry  forniKii  flrn  inMiirancu  ccunpaiiy  hliall  de|)<wit 
with  thu  'I  uianurtir  of  thm  .Mtato  or  tho  projmr  ol11c««r  of  iioni«  Dtlmr 
8t»t«  thn  luin  of  two  hundnnl  thouiund  itollari)  for  tlio  Unt*(lt  and 
wnnirlty  of  thn  |>olioy-holi|»trH  in  the  United  ^luttm.  Marinr  counm. 
niita  niuiit  dnpoait  thrw  liundrnd  thounaiid  dcdlam.  Such  dM|K)»)t  can- 
not bo  withdrawn  until  all  iKilii-y  and  othiir  obligation*  arw  Mti»fl«d. 

Thtt  capital  of  any  such  company  coniiiMtN  of  tlia  Hm^uritiit*  it  hat 
on  deposit  with  tlui  aeviual  insuranco  or  otli««r  dupartinents  of  the 
variouH  Stali'H,  and  of  tho  net  aMM'ts  in  tint  handtt  of  trimtoos,  residenta 
and  citiztms  of  tlio  United  HtatoH,  aiiprovod  by  th»i  Ooinniiimionnr,  for 
the  general  Itonellt  and  security  of  all  policy  holders  in  the  IJnitiid 
StattM,  Thu  amount  of  any  one  lia/.ard  or  risk  aMHiimcid  by  any  luob 
company  in  thiaUtato  shall  Iw  limited  to  ton  |Mtr  cent,  of  its  capital  to 
determined. 

Annual  statements  shall  Imi  llled  on  or  Iwfore  the  fifteenth  «lay  of 
January  in  each  year,  showing  the  investments  an<l  condition  of 
the  company  in  thv  United  Htates  the  preceding  thirtyHmt  day  of 
Decern  bor. 

FeeM,  —  For  filing  certified  copy  of  charter,  or  deed  of  settlement, 
thirty  dollars. 

F  or  filing  statement,  twenty  dollars. 

For  agent's  certificate,  two  clullart. 

For  certificate  of  valuation  or  examination,  two  dollars. 

P'or  license  to  procure  fire  iimuranco  in  unauthorized  companios, 
twenty  dollars. 

For  broktvr's  license,  ten  dollars. 

For  service  of  process  on  (Jommissioner,  two  dollars. 

For  valuation  of  life  policies,  live  mills  for  each  one  thousand  dol- 
lars  of  insurance  valued. 

For  copioH  of  any  paper  on  llle  in  the  r)ffico  of  the  Comniissionor, 
twelve  cents  per  page,  and  for  certifying  the  same,  one  dollar. 

Reciprocal  provision  in  reference  to  fees. 

Taxes,  —  Every  foreign  company  (liable  to  pay  a  tax  in  this  State) 
shall,  lietween  the  firat  and  fifteenth  days  of  November  in  crnch  year, 
make  to  the  tax  commissioner  a  return,  signed  and  sworn  to,  of  the 
amount  insured,  premiums  received,  and  HHsessments  collected  for  the 
year  ending  on  the  preceding  thirty.first  day  of  October.  Tlie  tax 
commissioners  sliall  theroujion  notify  each  company  of  the  amount  of 
tax  due.  Such  tax  shall  bo  paid  to  the  Treasurer  on  the  tenth  day  of 
December  next  succeeding. 

Every  company  (except  life  companies)  shall  pay  a  tax  of  two  per 
cent,  upon  ail  premiums  collected  in  this  State. 

Reciprocal  provision  in  reference  to  any  other  or  greater  taxes 
than  those  imposed  by  the  laws  of  this  State. 

Every  iife  insurance  company  doing  business  in  this  State  is 
required  to  pay  annually  an  excise  tax  of  t)ne-quarter  of  one  per 
centum  per  annum  upon  the   net  value  of  all  policies  in  force  on 


66 


MASSACHUSETTS. 


the  31st  day  of  December,  next  preceding,  held  by  residents  of  this 

St&te 

Such  company  must,  on  or  before  the  lOtb  day  of  May  annually, 
make  a  return  to  the  tax  commissioner,  under  oath  of  its  president 
and  secretary,  or  general  agent,  showing  the  number  date  and  class  of 
policies  so  held,  the  age  of  the  assured  life,  and  their  net  value,  and 
the  combined  aggregate  net  value. 

The  tax  commissioner  shall,  upon  such  return  and  upon  any 
other  evidence,  assess  and  determine  the  amount  to  be  paid  by  sucli 
corporation. 

T»fitt nltiPM  —A  contract  of  insurance  made  by  any  company 
witW  c^mplySg  with  the  provisions  of  law  shall  be  valid,  but  the 
Lent  procuring  the  insurance  shall  be  liable  to  a  fine  not  exceeding 
five  hundred  dollars,  except  that  the  Commissioner  may  license  (on 
the  payment  of  a  fee  of  twenty  dollars)  agents  to  place  insurance  m 
unauthorized  companies.  Such  licensed  agents  must,  l^o^ever  in 
each  case  file  an  affidavit  that  the  insurance  so  placed  cannot  be  had 
in  authorized  companies,  and  must  execute  a  bond  for  the  payment  by 
him  to  the  Treasurer  of  the  Commonwealth  of  four  per  cent,  of  the 
premiums  on  such  insurance.  „„n,„r 

>  nv  agent  doing  business  without  procuring  a  certificate  of  autbor- 
ity  or  failing  to  make  annual  returns,  and  for  various  other  offenses, 
is  subject  to  a  penalty  of  five  hundred  dollars  for  each  offense. 

Any  agent  or  broker  procuring  the  payment  of  a  premium  by 
fraudulent  representations  is  subject  to  a  fine  not  exceeding  one  thou- 
sand  dollars  or  imprisonment.  ■■',.,.  -v.  j 

Any  company  faiUng  to  file  a  stateraem  withm  the  time  prescnbed 
by  law  is  subject  to  a  penalty  of  one  hundred  dollars  for  ea«h  day  s 
neglect,  but  upon  application  the  Commissioner  may  extend  the  time 
for  filing  annual  statements.  For  wiUfully  making  a  false  statement 
the  penalty  is  not  less  than  five  hundred  or  more  than  five  thousand 

do  lift  TS 

Every  life  insurance  company  neglecting  to  make  the  return  re- 
quired for  taxation  shall  forfeit  fifty  dollars  for  ea*h  day  of  such 
neglect,  and  every  such  company  that  makes  any  false  statement  in 
such  return  shall  pay  a  fine  of  not  less  than  five  hundred  nor  n.ore 
than  five  thousand  dollars. 

A88KBBMBHT  IN8DBAN0E. 

Admission.  —  Auy  corpoT&tiou  organized  under  authority  of 
another  State  or  government  to  issue  policies  or  certificatei?  of  life  or 
casualty  insurance  on  the  assessment  plan,  as  a  condition  precedent  to 
transacting  business  in  this  State,  shall  deposit  with  the  Insurance 
Commissioner  a  certified  copy  of  its  charter;  a  statement,  under  oath 
of  its  president  and  secretary,  in  the  form  by  the  Insurance  Commis- 
sioner  required,  of  its  business  for  the  preceding  year;  a  certificate, 
under  oath  of  its  president  and  secretary,  that  it  is  paying,  and  for  the 
twelve  months  then  next  preceding  has  paid  the  maximum  amount 
named  in  its  poUcies  or  certificates  in  full;  a  certificate  from  the  proper 
authority  in  its  home  State  that  corporations  of  this  commonwealth, 


residents  of  this 

)f  May  annually, 

of  its  president 

date,  and  class  of 

•  net  value,  and 

a.  and  upon  any 
>  be  paid  by  such 


by  any  company 
)e  valid,  but  the 
le  not  exceeding 

may  license  (on 
iace  insurance  in 
lUst,  however,  in 
d  cannot  be  had 
)r  the  payment  by 

per  cent,  of  the 

rtificate  of  author- 
lus  other  offenses, 
sh  offense. 
)f   a  premium  by 
seeding  one  thou- 

le  time  prescribed 
,rs  for  each  day's 
f  extend  the  time 
;  a  false  statement 
than  five  thousand 

tke  the  return  re- 
each  day  of  such 
false  statement  in 
lundred  nor  n^ore 


inder  authority  of 
rtificateij  of  life  or 
iition  precedent  to 
?ith  the  Insurance 
tement,  under  oath 
[nsurance  Commis- 
year;  a  certificate, 
paying,  and  for  the 
maximum  amount 
ite  from  the  proper 
liis  commonwealth, 


-?*• 


MICHIGAN. 


67 


engaged  according  to  the  provisions  of  this  act  in  life  or  casualty  in- 
surance on  the  assessment  plan,  are  legally  entitled  to  do  business  in 
such  State;  copy  of  its  policy  or  certificate  and  application,  which 
must  show  that  benefits  are  provided  for  by  assessment  upon  policy  or 
certificate  holders;  evidence  satisfactory  to  the  Insurance  Commis- 
eioner  that  the  corporation  accumulates  a  fund  which  shall  be  at  all 
times  not  less  than  the  proceeds  of  one  death  assessment  upon  all 
policy  or  certificate  holders  thereof  ;  that  such  accumulation  is  permit- 
ted  by  the  law  of  its  incorporation,  and  is  a  trust  for  i  lie  benefit  of 
policy  or  certificate  holders  only,  and  is  securely  invested.  Every  such 
corporation  sliall  also  appoint,  in  writing,  the  Insurance  Commissioner 
its  attorney  to  accept  service  of  lega'  ')rocess.  The  Insurance  Com- 
missioner shall  thereupon  issue  or  renow  the  authority  of  such  cor- 
poration to  do  business  in  this  commonwealth,  and  such  authority  shall 
be  revoked  whenever  the  Insurance  Commissioner,  on  investigation,  is 
satisfied  that  such  corporation  is  not  paying  the  maximum  amount 
named  in  its  policies  or  certificates  in  full,  and  no  new  business  shall 
be  thereafter  done  by  it  or  its  agents  in  this  commonwealth.  When 
any  other  State  or  country  shall  impose  any  obligation  upon  any  such 
corporation  of  this  State,  the  like  obligation  shall  be  imposed  on  sim- 
ilar corporations  and  their  agents  of  such  State  or  country  doing  busi- 
ness in  this  State. 

The  Commissioner  has  the  same  right  to  examine  as  is  conferred 
upon  him  in  the  case  of  other  companies,  and  assessment  companies 
are  subject  to  the  same  fees  and  penalties  as  other  life  insurance 
companies. 


MICHIGAN. 

[Leglflatnra  meets  bteontaUy,   I7ezt  setalon,  Jaunary,  1891.] 
Henrt  S.  Raymond,  Insurance  Commissioner,  Lansing. 

AdtniHSion,  —  Every  company  desiring  to  transact  business  in 
this  State,  before  admission  must  file  with  the  Commissioner  a  certi- 
fied copy  of  its  charter,  or  deed  of  settlement. 

A  statement  under  oath  of  the  president,  or  vice-president,  or  other 
chief  ofiBcer  and  secretary  of  the  company,  stating  the  name,  location, 
capital,  and  condition  of  the  company. 

A  copy  of  the  last  annual  report,  if  any  made,  under  any  law  of  the 
State  by  which  such  company  is  incorporated. 

Every  company  shall  appoint  an  attorney  in  this  State,  on  whom 
processes  of  law  can  be  served,  and  shall  file  with  the  Commissioner  a 
certified  copy  of  the  vote  or  resolution  of  the  board  of  directors  ap- 
pointing such  attorney,  which  appointment  shall  continue  until  another 
attorney  shall  be  substituted. 

Every  company  shall  also  file  with  the  Commissioner  a  written 
stipulation,  duly  authenticated  by  the  company,  stipulating  and  agree- 
ing that  any  legal  process  affecting  such  company,  served  on  the  In. 
surance  Commissioner  or  his  deputy,  shall  hav«  the  same  effect  as  if 


68 


MICHIGAN. 


i 


i 

I- 

I 

3 


I, 


personally  sorvod  on  the  company  or  its  authorized  attorney  in  this 

When  any  process  affoctiiip  any  company  is  served  on  the  Com_ 
tnissioner  or  his  deputy,  the  same  shall  be  by  duplicate  copies  one  of 
which  shall  be  filed  in  the  office  of  the  Commissioner,  and  the  other 
immediately  mailed,  postage  prepaid,  to  the  home  office  of  the  com- 
pany, or  to  the  branch,  or  general  agency  of  the  company,  or  to  the 
address  of  the  authorized  resident  attorney  in  this  State,  as  the  com. 
pany  may  designate  in  such  stipulation. 

Necessary  blanks  will  be  furnished  by  the  Commissioner  on  request. 

CertMcateH  and  ^jyewe/ew.— Every  company  before  trans- 
acting business  in  this  State,  must  procure  from  the  Commissioner  a 
certificate  of  authority  or  license. 

Every  agent  of  a  "fire  or  marine  insurance  company  must  procure 
from  the  Commissioner  a  certificate  of  authority,  and  file  a  certified 
copy  thereof  with  the  clerk  of  the  county  in  which  hia  agency  is  estab- 
lished, together  with  a  copy  of  the  statement  of  the  company.  A  copy 
of  such  certificateof  authority  and  statement  shall  be  pubhshed  m  some 
paper  of  general  circulation  iti  this  State,  four  successive  times,  and 
proof  of  such  publication  be  filed  in  the  office  of  the  Commissioner 

within  30  days.  „  ,  *      «  c  a 

All  certificates  must  be  renewed  annually,  and  agents  of  hre  ana 
marine  companies  are  required  to  annually  file  copies  of  such  certifi- 
cates with  the  clerk  of  every  county  in  which  the  company  has  agents, 
but  publication  of  such  renewal  certificate  is  not  required. 

Every  agent  of  a  fire  company  shall  in  all  advertisements  publish 
the  location  of  the  company,  giving  the  name  of  the  city,  town,  or 
village  in  which  the  company  is  located,  and  the  State  or  government 
under  the  laws  of  which  it  is  organized. 

Examinations  and  Impairments.  —  '^^  Commis 
sioner,  whenever  he  shall  deem  it  expedient,  may  examine  into  tne 
affairs  and  condition  of  any  company  transacting  business  in  this  State. 
He  may,  if  he  deems  it  for  the  best  interest  of  the  public,  publirfi  the 
result  of  such  examination  in  one  or  more  papers  in  this  SUte.  When- 
ever it  shall  appear  to  the  Commissioner  that  the  affairs  of  any  com- 
pany are  in  an  unsound  condition,  he  shall  revoke  all  certificates  of 
authority  or  license  granted  in  behalf  of  such  company,  and  publish 
notice  of  such  revocation  in  some  paper  of  general  circulation  in  this 

State,  for  four  weeks.  •     ^v.-    a^  *    •* 

No  fire  or  marine  company  can  transact  business  in  this  State  ii, 
after  providing  for  its  proper  liabilities  and  re-insurance  fund,  com- 
puted  as  required  by  law,  its  capital  stocii  is  impaired  to  the  extent  of 
fifteen  per  cent.  No  life  company  can  transact  business  in  this  State 
if  its  assets  are  not  equal  to  its  outstanding  liabilities  and  premium  re- 
serve,  ascertained  as  required  by  law.  No  accident,  plate-glass,  live 
stock,  or  steam-boiler  company  can  transact  business  in  this  State  if  its 
capital  is  impaired  tltteen  per  cent. 

Fire  and  Marine.— ^v^ry  stock  company  must  possess  a 
paid-up  capital  of  at  least  one  hundred  thousand  dollars. 


MICHIGAN. 


69 


ittomey  in  this 

id  on  the  Com- 
e  copies,  one  of 
»r,  and  the  other 
fico  of  the  com- 
npany,  or  to  the 
Eite,  as  the  com- 

[oner  on  request. 

any  before  trans- 
Commissioner  a 

ly  must  procure 
i  file  a  certified 
;  agency  is  estab- 
mpany.  A  copy 
ublished  in  some 
388ive  times,  and 
le  Commissioner 

^ents  of  fire  and 
s  of  such  certifi- 
ipany  has  agents, 
lired. 

isements  publish 
he  city,  town,  or 
,e  or  government 


—  The  Commis- 
jxamine  into  the 
inesB  in  this  State, 
ublic,  publish  the 
hisStAte.  When- 
lirs  of  any  com- 
all  certificates  of 
)any,  and  publish 
i^culation  in  this 

in  this  State  if, 
ranee  fund,  com- 
1  to  the  extent  of 
ness  in  this  State 
s  and  premium  re- 
it,  plate-glass,  live 
I  in  this  State  if  its 


ly  must  possess  a 
lars. 


Annual  statements  must  be  filed  on  the  first  day  of  January  in  each 
year,  or  within  one  month  thereafter. 

The  re-insurance  fund  is  computed  at  fifty  per  cent,  of  premiums 
received  on  all  unexpired  fire  risks  having  less  than  one  year  to  run— 
a  pro  rata  of  all  premiums  received  on  unexpired  fire  risks  that  have 
more  than  one  year  to  run  ;  the  whole  amount  of  the  deposit  or  pre- 
mium upon  perpetual  policies;  all  the  premiums  received  on  unexpired 
marine  and  inland  risks. 

No  company  shall  assume  any  one  risk  or  hazard  to  a  greater 
amount  than  ten  per  cent,  of  its  paid-up  capital. 

Mutual  companies  possessed  of  two  hundred  thousand  dollars  of 
net  cash  assets  may  be  admitted,  on  compliance  with  the  other  pro- 
visions of  the  law,  and  mutual  marine  companies  may  be  admitted 
without  the  net  assets,  on  compliance  with  the  law. 

Companies  must  enter  into  a  stipulation  that  they  will  not  directly 
or  indirectly  enter  into  any  contract,  agreement,  arrangement,  or  un- 
dertaking of  any  nature  or  kind  whatever  with  any  other  company, 
companies,  association  or  associations,  the  object  or  effect  of  which  is 
to  prevent  open  and  free  competition  between  it  and  said  company, 
companies,  association  or  associations,  or  the  agents  of  their  respective 
companies  or  associations  in  the  business  transacted  in  the  State  of 
Michigan,  or  in  any  part  thereof. 

Michigan  has  standard  form  of  policy  which  must  be  used,  almost 
the  same  as  the  New  York  Policy. 

Life.  —  Every  company  must  possess  one  hundred  thousand  dol- 
lars properly  invested,  and  must  deposit  the  same  with  the  treasurer 
of  this  State  for  the  security  of  all  the  policy-holders  of  such  company, 
or  furnish  the  Commissioner  a  certificate  under  the  hand  and  officiai 
seal  of  the  proper  oflHcer  of  some  other  State,  showing  that  he  holds 
on  deposit  one  hundred  thousand  dollars  of  the  assets  of  such  com- 
pany  for  the  general  benefit  of  all  its  policy-holders,  and  stating  the 
amount  and  securities  so  held  by  him.  Fifty  thousand  dollars  of  such 
securities  must  be  State  or  United  States  bonds. 

Annual  statements  must  be  filed  in  the  month  of  January  of  each 
year,  showing  the  affairs  and  condition  of  the  company  on  the  preced- 
ing 31  at  day  of  December. 

The  Commissioner  shall  accept  a  certificate  of  valuation  from  the 
Commissioner  or  other  State  officer  of  some  other  State,  where  an  oflB. 
cial  valuation  of  the  policies  of  any  company  are  made,  showing  the 
amount  of  such  valuation,  and  the  basis  upon  which  it  was  made. 

If  such  certificates  be  not  furnished,  the  Commissioner  shall  annu- 
ally value  the  policies  of  such  company. 

In  making  such  valuation  he  shall  assume  the  rate  of  mortality 
shown  by  the  American  Experience  Table,  with  interest  at  four  and 
one-half  per  cent,  per  annum. 

Anti-rebate  law  took  effect  June  20,  1889. 

Accident,  I*late-Glass,  Live  Stock,  and  Steam- 
SoUer. —  Every  such  company  must  possess  a  paid-up  capital  of  one 
hundred  thousand  dollars,  and  must  have  deposited  with  the  proper 
oflBcer  of  the  State  where  organized,  for  the  benefit  of  all  its  policy. 


mumii,m*timiK 


to 


MICHIGAN. 


Sfi- 

411 


fill 


holders  at  least  ono  hundred  thousand  dollars  in  bondB  or  stocks  of 
the  State  whore  organized,  cr  of  the  United  States,  or  first  mortgages 
on  real  os'-nte  worth  double  the  Hum  loaned  thereon.  Such  companios 
must  comply  with  the  law  relating  to  life  insurance  companies,  so  far 
as  applicable.  Re  insurance  fund  is  computed  at  fifty  per  cent,  of  all 
premiuma  upon  unexpired  risks.  ,     .  ,  . 

Annual  statements  must  be  filed  in  the  month  of  January  m  each 

year. 

Fo»vff/M.— Every  Buch  company  shall  deposit  securities  with 
the  proper  officer  of  P»mo  State  of  the  United  States  to  the  amount  of 
two  hundred  thousand  dollars  for  the  benefit  and  security  of  the  policy- 
holders of  the  company  in  the  United  States,  and  shall  We  with  the 
Insurance  Commissioner  a  statement  of  the  character  of  such  deposit, 
attested  under  the  oath  of  the  trustees  thereof,  who  must  be  residents 
of  the  United  States.  .    ,    ,    . 

Such  deposit  shall  be  considered  the  cash  capital  of  the  company. 

It  shall  also  file  with  the  Insurance  Commissioner  its  consent  that 
the  managers,  resident  directors,  resident  secretary,  or  general  agents 
in  the  United  States  shall  be  deemed  the  legal  officers  of  such  company. 

Annual  statements  shall  be  filed  on  the  first  day  of  June  in  each 
year,  or  within  sixty  days  after  the  annual  meeting  of  the  company  as 

specified  in  its  charter.  ,„,„,,       .v     c    ^  j 

Supplementary  annual  statements  stall  be  filed  on  the  first  day  ol 
January  in  each  year,  or  within  thirty  days  theraufter,  showing  the 
business  of  the  company  in  the  United  States  for  the  year  ending  on 
tlie  preceding  Slst  day  of  December. 

Fees.  —  For  valuation  of  life  policies,  one  cent  for  each  one  thou- 
sand  dollars  insurance  valued. 

For  examination  of  companies,  the  actual  expenses  incurred. 

Reciprocal  provision  in  reference  to  life  companies. 

Taxes, Every  company  excepting  those  hereafter  specified,  at 

the  time  of  filing  its  annual  statement  shall  file  a  statement  of  the 
gross  amount  of  premiums  received  in  this  State,  during  the  preceding 
year,  with  the  State  Treasurer,  and  shall  pay  a  tax  of  three  per  cent, 
thereon.  Every  company  insuring  life,  and  every  accident,  plate-glass, 
live  stock,  and  steam-boiler  insurance  company  shall  make  return,  under 
oath  of  the  gross  premiums  received  in  this  State  the  year  preceding, 
and  at  the  time  of  filing  its  annual  bUtement  pay  to  the  State  Treasurer 
a  tax  of  two  per  cent,  on  all  premiums  received  in  cash  or  otherv^ise, 
by  such  companies  or  their  agents,  or  from  insured  parties  residing 
therein,  during  the  preceding  year.  This  specific  tax  shall  be  m  lieu 
of  all  other  taxes  in  this  State. 

Penalties. Fire  companies  transacting  business  in  this  State, 

without  complying  with  the  provisions  of  the  law,  are  subject  to  a  pen- 
alty of  five  hundred  dollars,  and  an  additional  penalty  of  one  hundred 
dollars  for  each  month  they  shall  continue  such  illegal  business. 
Agents  doing  business  without  certificate  from  Insurance  Commis- 
sioner are  punishable  by  fine  not  less  than  fifty  dollars,  nor  more 
than  five  hundred  dollars. 


MICHIGAN. 


71 


|g  or  stocks  of 
first  mortgages 
5uch  companies 
npanios,  so  far 
per  cent,  of  all 

anuary  in  oach 

securities  with 
)  the  amount  of 
ty  of  the  policy- 
ill  file  with  the 
of  such  deposit, 
list  be  resideatB 

f  the  company. 
its  consent  that 
:  general  agents 
f  such  company. 
)f  June  in  each 
the  company  as 

the  first  day  of 
)r,  showing  the 
year  ending  on 

ir  each  one  thou- 
i  incurred. 


,fter  specified,  at 
statement  of  the 
Dg  the  preceding 
t  three  per  cent, 
ident,  plate-glass, 
ake  return,  under 
>  year  preceding, 
e  State  Treasurer 
ish  or  otherwise, 
parties  residing 
X  shall  be  in  lieu 


uess  in  this  State, 
3  subject  to  a  pen- 
y  of  one  hundred 
illegal  business, 
sarance  Commis- 
ollars,   nor  more 


Companies  violating  the  agreement  regarding  compact  laws  will 
have  certificates  revoked,  and  agents  «ro  punished  by  fine  and 
imprisonment. 

Life  companies  doing  business  without  complying  with  the  law  are 
subject  to  a  penalty  of  one  hundred  dollars  for  "every  application 
obtained,  or  insurance,  guaranty,  contract  or  pledge  made." 

Any  person  soliciting  applications  for  insurance,  or  making  any 
such  insurance  guaranty,  contract,  or  pledge  as  aforesaid,  before  the 
deposit  of  such  securities  or  before  compliance  with  any  condition  pre- 
cedent provided  by  the  laws  of  this  State  for  life  insurance  companies, 
shall  be  liable  to  a  penalty  of  one  hundred  dollars  for  every  application 
obtained,  or  insurance,  guaranty,  contract,  or  pledge  made;  and  any 
person  who  may  have  paid  moneys  therefor  shall  be  entitled  to  recover 
the  same  back  from  the  person  to  whom  it  was  paid,  or  in  case  such 
person  was  an  agent,  then,  at  his  option,  from  the  principal  of  such 
agent,  by  action  of  assumpsit,  to  be  brought  at  any  time  within  six 
years  after  such  payment. 

ASSESSlfENT   INSUBANOE. 

Admission, —  Any  corporation  organized  to  do  life  or  accident 
business  on  the  assessment  plan  muct  file  in  the  office  of  the  Commia- 
aioner  of  Insurance  a  copy  of  its  charter  or  articles  of  association,  cer- 
tified under  seal  by  the  proper  officer  in  charge  of  the  record. 

A  copy  of  its  statement  of  financial  condition  and  business  for  the 
preceding  year,  sworn  to  by  its  president  and  secretary,  or  like  officers, 
and  in  case  application  for  authority  is  made  after  the  first  of  July,  a 
supplementary  statement  should  be  made  showing  its  condition  on  the 
last  day  of  the  month  immediately  preceding  the  date  of  application. 

A  certificate  under  oath  of  its  president  and  secretary  that  it  does 
not  issue  policies  or  certificates  upon  the  lives  of  persons  under  twenty- 
one  or  over  sixty-five  years  of  age,  nor  upon  any  person  unless  such 
person  shall  have  personally  made  and  signed  an  application  for  such 
certificate  or  policy,  and  that  it  has  in  force  policies  of  insurance  on 
which  the  proceeds  of  one  assessment  will  pay  the  highest  amount 
insured  upon  each  of  the  lives  of  members  for  which  the  assessment  is 
levied,  the  full  amount  agreed  to  be  paid  upon  the  death  of  any  one 
member,  and  that  it  is  paying,  and  for  the  twelve  months  next  preced- 
ing has  paid,  the  highest  amount  named  in  its  policies  or  certificates  in 
full. 

A  certificate  from  the  Commissioner  of  Insurance,  or  other  ofSeor 
in  charge  of  the  business  of  insurance,  certifying  that  the  State  or 
territory  of  the  United  States  or  District  of  Columbia,  or  foreign 
country,  under  whose  laws  such  corporation  or  association  is  organized, 
shall  extend  the  right  to  such  corporations  of 'this  State  to  do  business 
in  such  State  or  territory  of  the  United  States  or  District  of  Columbia, 
or  foreign  country,  upon  similar  conditions  to  those  in  the  said  act 
prescribed. 

A  certificate  from  the  insurance  department,  if  any,  of  its  home 
State  or  territory  of  the  United  States  or  District  of  Columbia,  or 
foreign  country  that  it  is  authorized  to  do  business  in  such  home  State 


'  .'^!a*j*w.nwyi  ^m-^\ 


va 


MINNESOTA. 


f 
I 
t 
I 


or  territory  of  tho  United  Statns  or  District  of  Columbift,  or  foreign 

country.  .  ,    •  •    e 

A  power  of  attorney  to  some  citizen  and  redident  of  this  .State, 
upon  wiiom  all  process  against  Haid  corporation  or  association  may  bo 
served,  and  sliall  also  agroe  that  Biich  service  may  he  made  upon  tho 
Commissioner  of  Insurance  of  this  State,  who  shall  be  deemed  its  agent 
for  that  purpose. 

A  copy  of  its  certificate  of  membership,  application,  and  bylaws. 
It  is  a  requirement  of  the  department  that  application  atatemeiits 
be  verihed  by  the  insurance  official  of  the  State  in  which  the  associa- 
tion applying  for  authority  is  organized,  or  by  an  examination  to  be 
made  under  the  direction  of  the  Commissioner  of  Insurance  of  this 
State,  and  at  tho  expense  of  the  association  examined. 

Annual  StatemenU  must  be  made  on  or  before  March  first, 
on  blanks  furnished  by  the  Insurance  Commissioner, 

jPee».  —  For  filing  preliminary  papers  and  first  license,  twenty- 
fiv6  dollftrs. 

For  filing  subsequent  annual  statement,  twenty-five  dollars. 

Penalties,  —  Any  such  foreign  corporation  or  association  doing 
business  in  the  StatJ  that  shall  refuse  or  neglect  to  comply  with  the 
provisions  of  law,  shall  be  deemed  and  held  to  be  doing  buemess 
unlawfully,  and  if  any  officer,  agent,  or  employee  of  any  such  corpora- 
tion or  association  shall  do  business  in  the  State,  or  assist  in,  or  know- 
ingly permit  the  same,  in  violation  of  the  provisions  of  this  act,  he 
sliall  be  deemed  guilty  of  a  misdemeanor,  and  upon  conviction  thereof 
shall  be  fined  not  more  than  £ve  hundred  dollars,  or  be  imprisoned  in 
tho  county  jail  not  more  than  ninety  days,  or  both,  in  the  discretion 
of  the  court. 

The  act  does  not  apply  to  fraternal  organizations. 


MINNESOTA. 

[Leglitatnro  meets  biennially.    Next  eeMlon,  Jinuery,  1891.] 
Calvin  P.  Bailey,  Insurance  Commissioner,  St,  Paul. 

Admission,  —  Every  company  cleairing  to  transact  business  in 
this  State,  before  admission  must  tiln  with  the  Insurance  Commis- 
sioner— 

A  certified  copy  of  its  charter  deed  of  settlement,  or  articles  of  m- 
po 'poratior,  or  a  statement  vrri^.c-S  by  the  signature  and  oath  of  the 
president,  or  vice-president  an'"  .ecretary,  or  actuary,  showing  the  con- 
dition  and  business  of  the  compauy , 

Every  company  shall  tile  with  -p 
ment  signed  by  the  president  and  „,    „         „     .  . 

of  the  company  that  service  of  proOAJivs  in  any  civil  action  against  the 
company  may  be  made  upon  such  \  ^n'  or  agents  as  it  shall  designate 
in  such  agreement  or  upon  the  Insurance  Commisioner,  and  authorize 


Oommissioner  a  written  agree- 
ecriitary,  agreeing  upon  the  part 


't<t^. 


MINNESOTA. 


71 


ibia,  or  foreign 

it  of  this  StatM, 
sciation  may  bo 
mado  upon  tho 
eoined  its  agent 

n,  and  bylaws, 
ition  atatements 
lich  the  aaaocia- 
aininatioii  to  bo 
laurance  of  this 


fore  March  first, 


license,  twenty- 

9  dollars. 

issociation  doing 
comply  with  the 
)  doing  buEinesB 
ay  such  corpora- 
jsiat  in,  or  know- 
s  of  this  act,  he 
3nviction  thereof 
be  imprisoned  in 
in  the  discretion 


,  isei.] 

3t.  Paul. 

msact  business  in 
surance  Commis- 

,,  or  articles  of  in- 

e  and  oath  of  the 

showing  the  con- 

a  written  agree- 
ing upon  the  part 
iction  against  the 
1  it  shall  designate 
ler,  and  authorize 


such  agent  or  agents  to  admit  sorvico  of  process  for  and  in  behalf  of 
tho  company,  and  agreeing  that  such  service  Hhall  bo  valid  and  bind- 
ing upon  tho  company. 

There  wliall  be  (ilod  with  the  Commissioner  a  written  stipulation, 
duly  autlienticated  by  tho  company,  agreeing  that  any  legal  proceaa 
affecting  tho  company,  served  on  the  Insurance  Commissioner,  shall 
have  the  saino  etiect  as  if  served  on  the  company  or  its  authorized 
attorney. 

All  companies  are  prohibited  from  removing  suits  from  tho  State 
to  the  Federal  courts,  unv'^r  penalty  of  revocation  of  license. 

CertlfieateH  and  Ai'entM, —  Every  company  must  procure 
from  the  Commissioner  a  certificate  of  authority,  showing  that  it  has 
complied  with  the  requireneuts  of  the  law  of  this  State,  and  is  entitled 
to  assume  risks  and  issue  policies.  A  cortiiicato  showing  compliance 
shall  be  published  in  connection  with  the  unuual  statement. 

Every  agent  nmst  procure  from  tho  CommisHionor  a  certificate  of 
authority  before  transacting  any  business  in  this  State. 

Such  certificate  n>ust  be  renewed  annually,  withiu  sixty  days  from 
the  first  day  <•'  January. 

Every  couipany  and  agent  in  all  .-tdvortisomenls  of  the  company  or 
agency  in  this  State  shall  publish  t,be  location  of  the  company,  giving 
the  name  of  the  city,  town,  or  village,  and  State,  in  which  it  is  located, 
and  in  all  advertisements  and  circulars  in  which  tho  capital  of  the 
company  is  stated,  the  amount  at  risk  the  preceding  thirty-first  day  of 
December  shall  be  stated. 

Soliciting  agents  for  fire  insurance  must  be  residents  of  the  State. 

Examination  a  and  InipairnientH. — The  Commissioner 
may  examine  or  cause  to  be  examined,  the  affairs  of  any  company 
doing  busmess  iii  this  State,  whenever  in  his  opinion  the  interests  of 
the  policy-holders  require  it.  He  may  publish  tho  result  of  any  ex- 
amination, when  in  his  opinion  the  interests  of  tho  public  require  it. 
He  shall  suspend  the  business  of  any  company  in  this  State  whenever 
its  assets  appear  to  him  insutficient  to  justify  its  continuance  in 
business,  by  suspending  or  revoking  tho  certificates  granted  by  him 
to  such  company  or  its  agents,  and  shall  give  notice  of  such  action 
to  the  insurance  officials  of  every  other  State,  and  publish  notice 
thereof  in  the  papers  in  which  by  law  State  notices  are  required  to  he 
published. 

A  fire  or  marine  company  cannot  transact  business  in  this  Stat"  if, 
after  providing  for  ail  claims  against  it  and  a  re-insurance  fund  as 
required  by  law,  its  capital  stock  is  impaired  to  the  extent  of  ten  per 
cent.,  unless  such  impairment  be  made  good  within  sixty  days. 

A  life  company  cannot  transact  business  in  this  State,  if  its  assets 
are  not  equal  to  its  liabilities  and  claims  against  it  and  the  amount  of 
its  premium  reserve  computed  as  required  by  law.  All  other  insur- 
ance companies  cannot  transact  business  in  this  State  if  the  capital 
stock  is  impaired  to  the  extent  of  ten  per  cent. 

Fire  and  Marine.  —  Every  fire  company  doing  business  in 
this  State  must  possess  a  paid-up  capital  of  two  hundred  thousand 
dollars. 

10 


u 


MINNESOTA. 


I 


Aiinuul  stalonienta  muBt  Do  Hlml  on  the  flrat  day  of  January  in 
«ach  year,  or  witliiu  thirty  days  llu-nsifUir,  verifimi  by  the  gignatuni 
uiul  outh  of  tho  |>rimi<lont  or  vicoprcHidHnt  togutlior  with  that  of  tho 
Bocriitary  or  wauary,  Hhowing  Ihn  comlition  and  afTainj  of  thu  company 
on  th«  proceding  thirtylirnt  day  of  I)ocuinl)«r. 

Sucli  sUtement  rnuHt  be  publiHhod  at  hiast  throo  timtm,  in  a  daily 
or  wookly  new«pap«jr  of  genoral  circulation,  printed  and  publiuhod  in 
uithor  Uoiinepin  or  llarnwiy  countioB,  and  having  a  bonajide  circulation 
of  two  thousand  copiim  or  more,  or  in  the  county  whore  the  State 
agency  of  the  company  is  located.  CJommiMioner'H  certificate  of  au- 
thority must  be  pubUshed  with  statement.  Printer's  affidavit  of  pub- 
lication must  bo  filed  with  Cominisaionor. 

The  re-insurance  fund  shall  bo  computed  as  follows:  fifty  por  cent, 
of  all  premiums  on  unexpired  fire  risks,  that  have  less  than  one  year 
to  run:  a  pro  rata  of  all  premiums  received  on  unexpired  fire  risks 
that  have  more  than  one  year  to  run;  the  entire  premium  received  on 
unexpired  marine  and  inland  risks. 

Where  the  fire  reserve  is  less  than  forty  percent,  of  all  the  fire 
premiums  received  during  the  year,  the  whole  of  such  premiums  shall 
constitute  the  reserve  on  firo  business. 

No  fire  company  slmll  expose  itself  to  a  greater  loss  on  any  on« 
risk  than  five  per  cent,  of  its  paid-up  capital,  and  no  marine  or  inland 
company  to  more  than  ten  per  cent.,  and  no  fire  or  fire  and  marine 
company  can  do  a  life  business.  . 

No  mutual  fire  insurance  company  not  of  this  State  sliall  do  busi- 
ness in  this  State  unless  it  shall  be  possessed  of  at  least  two  hutidred 
thousand  dollars  of  actual  -jash  surplus,  ov.t  and  above  all  liabiiitins, 
including  the  re-insurance  reserve  fund  required  by  the  laws  of  this 
State.  But  mutual  insurance  companies  of  other  States  may  be  ad- 
mitted in  case  the  State  where  such  insurance  companies  are  located 
admit  the  mutual  insurance  companies  of  this  State,  by  complying  in 
all  respects  with  the  conditions  and  obligations  imposed  by  such  States 
on  the  mutual  insurance  companies  of  this  State. 

Minnesota  has  u  .upted  a  standard  policy  exactly  a  copy  of  the  New 
York  form. 

Zilfe, Every  company  must  possess  available  assets  to  the  amount 

of  one  hundred  thousand  dollars. 

Every  company  must  furnish  the  (.Commissioner  the  certificate  of 
the  proper  official  of  the  State  where  the  company  is  located,  showing 
that  as  such  official  he  holds  in  trust  and  on  deposit,  for  the  benefit  of 
all  the  policy-holders  of  the  company,  securities  to  the  amount  of  one 
hundred  thousand  dollars,  and  stating  the  items  thereof,  and  that  he 
is  satisfied  such  securities  are  worth  one  hundred  thousand  dollars. 
Any  company  failing  to  furnish  such  certificate  shall  make  a  like 
deposit  with  the  Commissioner  or  other  financial  officer  of  this  State. 

Annual  statements  must  be  filed  on  the  first  day  of  January,  or 
within  forty  days  thereafter,  showing  the  condition  of  the  company  on 
the  preceding  thirty-first  day  of  December.  Such  statement  must  be 
published  in  the  same  manner  as  the  statements  of  fire  and  marine 

companies.  .        .    ,,    u 

The  Commissioner  is  required  to  make  a  valuation  of  all  tne  out- 


r  of  January  in 
ly  i\wi  iiignatun) 
viih  that  of  tlin 
of  tho  coni|)any 

:iinim,  itt  a  daily 
)d  publiuhod  in 
I  fide  circulatiun 
Inhere  the  Htato 
urtiflcate  of  au- 
iffidavit  of  pub- 

i:  Hfty  por  cent. 
«  than  one  year 
pirod  fire  rislcs 
una  received  on 

it.  of  all  the  fire 
preiniuiuH  shall 

loss  on  any  on« 
uarino  or  inland 
fire  and  marine 

to  sliall  do  buai- 
kst  two  hundred 
(ve  uU  liabiiitins, 
the  laws  of  this 
ates  may  be  ad- 
nies  are  located 
by  complying  in 
d  by  such  States 

copy  of  the  New 

3ts  to  the  amount 

the  certificate  of 
located,  showing 
or  the  benefit  of 
8  amount  of  one 
•eof,  and  that  he 
housand  dollars, 
all  make  a  like 
3er  of  this  State. 
i?  of  January,  or 
!  the  company  on 
Eitement  must  be 
fire  and  marine 

in  of  all  the  out- 


mmmm 


MTNNRSOTA. 


75 


(itanding  policieii  of  any  company  doing  bumnena  in  this  State,  if  such 
company  doim  not  file  with  tho  {'omminsioner  the  certifioatft  of  the 
proper  official  of  the  State  where  tho  company  is  organized,  giving  the 
value  of  all  itH  policies,  calculated  upon  the  baHis  required  by  the  laws 
of  this  State,  and  stating  that  after  all  debts  and  claims  against  tho 
company  are  provided  for,  it  has  in  safe  securities  an  amount  equal  to 
the  value  of  its  policies, 

Tho  basis  of  valuation,  as  established  by  tho  laws  of  rhib  State,  is 
tho  American  Experience  Table  of  Mortality,  with  interest  at  four  and 
one  half  por  cent,  por  annum. 

Companlea  other  than  Ftro  and  Mnrlnp  and 
TAfe, —  Kvery  such  company  must  possess  a  paid-up  capital  of  at 
least  one  hundred  thousand  dollars,  and  must  deposit  with  the  proper 
officer  of  tho  State  where  organized  at  least  one  hundred  thousand  dol- 
lars in  United  States  bonds,  or  the  bonds  of  such  State,  or  in  bonds  and 
mortgages  on  improved  unincumbered  real  estate  worth  double  the 
amount  loaned  thereon,  and  assign  tho  same  to  such  oflicer  in  trust  for 
tho  benefit  of  all  its  policyholders. 

Such  companies  must  comply  with  the  provisions  of  law  relating 
to  Ufa  insurance  companies  so  far  as  the  same  are  applicable.  The  re- 
insurance reserve  shall  be  computed  at  fifty  per  cent,  of  all  premiums 
on  unexpired  risks.  Annual  statements  must  bo  filed  in  tho  month  of 
January,  and  published  as  above. 

Foretffn. —  Every  company  must  deposit  with  the  proper  official 
of  some  one  of  the  States,  for  the  security  of  all  its  policy-holders  in 
the  United  States,  securities  to  tho  amount  of  two  hundred  thousand 
dollars,  and  must  furnish  the  Commissioner  a  certificate  from  such 
official  that  he  holds  such  deposit,  and  stating  the  purpose  for  which 
it  is  held. 

The  capital  of  any  such  company  shall  be  the  aggregate  value  of 
all  deposits  in  the  various  States  for  tho  security  of  policy  holders,  and 
its  assets  and  investments  vested  in  trustees  in  the  United  States,  for 
the  security  of  tho  policyholders  and  creditors  of  the  company  in  tho 
United  States,  after  deducting  therefrom  tho  amount  of  all  unpaid 
losses  and  claims  against  the  company,  and  tho  amount  of  re-insurance 
reserve  on  the  business  of  the  company  in  the  United  States. 

The  Commissioner  must  annually  issue  to  such  company  a  certifi- 
cate showing  tho  amount  of  its  so  determined  capital,  and  such  com- 
pany must  not  assume  any  one  risk  in  this  State,  greater  than  five  per 
cent,  thereof. 

Fee(t» —  For  filing  certified  copy  of  charter,  twenty-five  dollars. 

Por  filing  annual  statement,  twnty  dollars. 

For  each  certificate  of  authority  and  certified  copy  thereof,  one 
dollar. 

Por  every  copy  of  any  paper  filed  with  the  Commissioner,  twenty 
cents  por  folio,  and  for  affixing  seal  and  certifying  such  copy,  one 
dollar. 

For  valuing  life  insurance  policies,  ten  dollars  per  million  of  insur- 
sncQ  or  any  fraction  thereof. 


n 


M;NNK8(r\. 


¥^ 


For  offlriM  nK»ruinfttiofi»  of  coin|.iiHio»,  th«  actual  oJn^niMt*  tnciirred 
In  CMO  tlu)  noc'iiwirf  oxiwniKHt  of  tlin  Ct.iiiiniMionMr  oxcwl  the 
tern  collected,  he  8h»ll  mw*  annually  i»uch  «xc«««  oquiiUy  upon  »U 
companieit  doing  '- 1  Muoib  i.i  tin*  Statu.     Heoipr<iC»l  clauu*. 

TfijrrM.— A  tax  of  two  per  cent,  upon  all  premiums  ooUoct«d 
within  th.)  8tHt«  .luring  th«  ymr  .  .ulinn  on  tho  procodinK  thirty  flmt 
day  of  Dewnib.)r,  shall  \m  paid  to  th«  Troaniir^r  annually  at  th«  time 
of  iasuinK  tbu  certi!lcat«  of  authority.     Unciprocal  clauM. 

Pf'Haltit'M.—  Any  pomon  acting  as  agent  without  licenso  i«  sub- 
ject to  a  flne  not  «)xc(M«ling  ono  hiuidrixl  dolUrn.  Any  company  will- 
fully neglecting  to  niakH  and  IranHniit  any  Ntatemunt  ruquiicd  shall 
forfeit  one  hundr«'<l  «ioll«r8  for  each  days  noglt-ct,  and  any  lon.pany 
willfully  making  a  faU.)  statoniont  in  any  report  to  tlio  CornmiiMtioner 
ia  liable  to  a  iM<nalty  of  live  hundrod  .lollars.  The  «ame  penalty  m 
attached  to  a  failure  to  reply  to  a  letter  from  the  Commisaioner  Mk- 
ing  for  •nforraation.  .  .  ,  ,,     , 

If  any  company  nhall  violate  any  of  the  provisions  of  the  law,  or 
•hall  by  means  of  any  advertisement,  circular,  notice,  or  statement, 
printed  or  written,  publiHhod,  posted,  or  circulated  through  and  by  the 
agency  of  any  olTicor,  agent,  or  other  person,  or  by  any  other  moans 
falsely  represent  or  hold  out  to  the  public  that  the  capital  stock  of  such 
company  is  greater  than  itm  a<'.tual  amount,  or  that  the  accumulation  of 
such  company  is  greater  than  its  actual  cash  or  market  value,  every ' 
director,  officer,  or  agent  of  such  company   guilty  of  any   willful 
participation  therein,  sliall  be  deemed  guilty  of  a  misdemeanor,  and, 
o«  conviction  thereof,  whall  be  punished   by  a  fine  not  exceeding  one 
thousand  dollars,  or  by  imprisonment  in  the  county  jail  not  exceeding 
three  months,  or  by  both  such  fine  and  imprisonment,  m  the  discretion 
of  the  court;  and  if  any  such  company  after  any  such  false  advertise- 
ment, posted  or  circulated,  shall  receive  any  note  or  obligation  for  the 
paymttnt  of   money,  from   any   person,  as  a  consideration   for  any 
insurance  made,  or  policy  issued,  or  to  be  isau  i,  by  such  comjiany, 
such  money,  note,  or  obligation  shall  be  deemed  and  taken  to  have 
been  received  without  consideration,  and  the  directors  of  such  company, 
and   any   officer   or   agent   receiving  the  same,  shall  be   jointly  and 
severally  liable  in  a  civil  action  for  the  re-payment  vhereof.  and  sball 
also,  in  like  manner,  bo  liable  to  the  person  insured  for  the  amount 
of  the  premium  paid. 

ASSESflMKNT    I>'8CBAN0B. 

Admisfiion.—  Comp&niea  must  file  with  the  Insurance  Commis- 
sioner such  statement  as  ho  may  require  of  t/ieir  condition  and 
business,  and  satisfy  him  that  similar  companies  organized  under  the 
laws  of  Minnesota  would  be  admitted  to  do  buMness  in  the  State 
where  such  companies  are  organized,  and  must  receive  from  him  a 
certificate  of  authority  before  transacting  any  businose. 

Annual  8tatementn  must  be  filed  on  or  l)»'fore  the  first  day 
of  February,  on  blanks  furnished  by  the  Commissioner. 


MISHfSaiPPI. 


77 


incurred, 
nwr  oxc««'<l  the 
quatly  upon  «ll 

niumM  cotlonUNi 
(liiiK  thirty  ft  rut 
ally  tit  the  tinio 
iie. 

It  licenso  in  nub- 
y  coo»p»nv  will- 
t  r«quiro(l  shall 
h\  any  i-oiiipttiiy 
«  CoHirnistionnr 
same  i)enalty  in 
tinmitsioner  tisk- 

IS  of  the  law,  or 
!o,  or  Btatein«nt, 
-uugh  and  \}y  tho 
iny  other  moans 
ital  stock  of  such 
I  accumulation  of 
kot  value,  every  * 

of  any  willful 
isdemeanor,  and, 
yt  exceeding  one 
nil  not  excluding 
in  tho  discretion 
h  false  advertise- 
)bligation  for  the 
oration  for  any 
y  such  company, 
d  taken  to  have 
of  such  company, 
1  be  jointly  and 
hereof,  and  shall 

for  the  amount 


isurance  Commis- 
ir  condition  and 
anized  under  the 
leas  in  the  State 
Kive  from  him  a 
m. 

nfore  the  first  day 
aer. 


/<>•*•«,—  Kor  llling  and  reoonlitig  preliminary  papnrM,  ten  dollars. 

Fur  filing  annuni  staioniitnt,  itm  doilitm. 

For  oaoh  c«rtili«iiit4i  of  authority  and  copy  thereof,  ono  dollar. 

Kor  copies  of  pajwrs,  iwiujty  c«int«  jx^r  folio,  and  for  affixing  si^ai 
and  certifying  to  same,  on«  dollar. 

Kor  exaniinationit,  noceMary  expenses  not  tnoxctMxl  in  auy  oqh  year, 
fifty  dollars 

I't'nnltteH,—  For  non-compllanco  with  law  a  fine  of  not  more 
thun  flvf!  liumlreil  doliarM,  or  iniprisonmenl,  or  both. 

Whrin  any  othwr  Slate  or  territory  shall  iinjtose  any  obligation  Ufmn 
such  corporation,  association,  or  socinty  of  this  Htato,  or  their  ugents 
transacting  businoss  in  such  other  Htale  or  i<'rritory,  tho  like  obligations 
are  horoby  impownl  on  similar  corporationw,  asNociationa,  or  8ocii>tioa 
of  such  other  Htate  or  territory  and  their  agents  or  rnpnmentativei 
transacting  business  in  this  State. 


MISSISSIPPI. 


(U|([l«l»tiir«  mwt  blennUlly.    N«it  Miilon,  Jaouarr  e,  IHSO.| 
W.  W.  Stone,  Auditor  of  I'ubhc  Accounts,  Jackson. 

AdtntHHloH.  —  Rvery  company  desiring  to  transact  buHinoss  in 
this  State,  must,  Iwforo  admission,  possess  an  actual  capital  of  one 
hundred  and  fifty  thousand  dollars,  and  must  file  with  tho  Auditor 

A  copy  of  the  charter,  or  act  of  incorporation  of  the  company. 

A  statement  under  oath  of  the  prosidi  t  or  secretary  of  the  com- 
pany, showing  the  name,  location,  capital  stock,  assets,  and  liabilities 
of  the  company. 

A  written  instmment,  under  the  seal  of  tlie  company,  signed  by  its 
president  and  secretary,  authorizing  tho  agent  of  the  company  to 
ackn'  wledge  sorvico  of  process  for  and  in  behalf  of  the  company,  con- 
son'  g  that  service  of  process  upon  stich  agont  shall  be  as  valid  ond 
binumg  as  if  served  on  tho  company,  and  waiving  all  claim  of  error 
by  reason  of  such  service.  If  the  agent  remove  from  thia  State, 
abscond  or  conceal  himself  so  that  he  cannot  be  served  with  process, 
or  if  from  any  cause  any  company  should  be  without  an  agent  upon 
whom  process  can  be  served,  then  such  service  may  bo  made  on  the 
State  Treasurer  as  garnishee  of  such  company. 

Certtficatea  and  Affenttt,  —  Every  agent  shall  procure  from 
the  auditor  a  certilicate  of  authority,  before  transacting  business  in  this 
State,  and  before  said  certificatp  can  be  issued  the  agent  must  furnish 
the  Auditor  a  certificate  from  tho  tax  collector  that  he  has  paid  his 
privilege  tax. 

Such  agent  shall  file  in  the  office  of  tho  chancery  court  of  the 
county  in  which  he  desires  to  establish  an  agency  for  such  company,  a 
copy  of  tho  statement  filed  with  the  Auditor,  together  with  the  certifi- 
cate of  authority  issued  to  him. 


n 


MIfl8ISaiPPI. 


Huch  c«ntllcat«  of  kiUhorit 
copy  nf  Htktomnnt  shKJi  Ui  ill 


■itv 


i 


if; 

m 
i 

11^ 


■h»ll  hi^  ri^nitwA'l  Kiinuklly,  and  with 
AN  iifi>rt<mi<i. 
Vh6  ftg«nt  of  tW'>  ftuthorii!«<l  ootnixinifla  m»y  r«cfliv»i  a  licanM  to 
pl»cfl  in«ur»nt!t)  in  cortii)»ni«'i«  not  c<»m|ilying  with  »hi<  l»w  (in  cmn  •iich 

of  ftv«  hiu>«lrn<l  «ioll»r«i,  and  ptyinn  ft  ii|M(oirtl  lii-onxfl  fe«  of  twonly-flvn 
(InlUm.  n<t  kIibII  rnttkii  ipmrtorly  n'[M)rt»  to  th«  Amlitor  of  mich 
iniiTirnnc**,  anil  pav  »  tax  uf  onu-ttiutb of  ont)  |M)r  tout,  on  tbu  tttuouat 
of  iMur»nc«  go  pIncuHt, 

Urtu  Mavhtt',  nnd  fJfr,  —  Annual  «tfttemnnts  nhall  l)o  flind 
on  thtt  Dml  day  of  March  in  •men  yoar. 

Fof*'lffn.  —  No  initiirancn  company,  or  a»<i«nt  of  any  innurancn 
company,  incorjwratnd  hy  any  oth«r  HU\U\  Hhall  transact  any  buiinoM 
of  iniiiranco  in  thin  Htato  i.nUjM  Huch  (lompany  in  powioikK^d  of  at 
loaat  ono  hiindrod  and  fifty  thou«nnd  dolhirs,  of  in'tiial  capilHl,  inv»mt«Mj 
in  MtockM  of  at  Imwt  par  vahm,  or  in  iuujdrt,  i»r  mortnivK<'>i  of  ntal 
cHitate,  worth  doubla  thu  amount  for  which  thti  luimo  is  mortgaged. 

Depottltn, —  Kach  foreign  insuranco  company  whoHo  capital 
dOAM  not  oxcood  two  hundred  and  fifty  thounand  dollarM,  niMRt  dnpoHit 
in  th«  Htate  Tr«aMiiry  ton  thoiisand  dollarn  in  i  jxir  c«»Tit.  St«to  bond*, 
or  rrurroncy,  and  (If loon  thoimaiid  doilarH  in  United  Htafos  bondi. 
Each  company  whoHo  (tapital  oxctwdB  two  hundn-cl  and  (ifty  thouaand 
dollara,  and  not  flvn  hundi-Md  thoiittand  dollars,  muMt  dopoait  flftoon 
thoiwand  liollarH  in  four  {xsr  cont.  State  hondB,  or  currency,  and  t«m 
thousand  dollarB  in  United  StutcH  bonds.  Each  company  whoso 
capital  excewls  five  hundretl  thousand  dollars,  must  dn|)OHit  twenty 
thousand  dollars  in  four  {wr  cont.  State  bo  ads,  or  currency,  and  five 
thousand  dollars  in  Unitfld  States  bonds. 

Fce»»  —  VoT  iB»\iing  each  license  ni\d  receiving  statement,  five 
dollars,  to  auditor. 

To  clerk  of  chancery  court,  for  filing  each  statfiment,  fifty  cents. 

Insuranco  agents  are  required  to  {)ay  a  privilege  tax  of  from  fif- 
teen dollars  to  forty  dollars.  The  forty  dollars  tax  is  good  for  entire 
State. 

LicenneH  and  Taxes,  —  A  tax  on  privileges  shall  be  levied 
as  follows,  to  wit:  on  each  fire  insurance  company  doing  business  in 
this  State,  one  thousand  dollars.  On  each  life  insuranco  company, 
seven  hundred  and  fifty  dollars.  On  each  accident  insuranco  com- 
pany, two  hundred  and  fifty  dollars.  The  city  of  Vicksburg  is 
empowered  to  assess  a  privilege  tax  of  one  hundred  and  twenty-five 
dollars  annually,  upon  each  fire  insurance  company  transacting 
business  in  this  city.  Any  company  paying  the  sum  of  one  hundred 
dollars  to  the  Firemen's  Charitable  Association  of  Vicksburg,  is 
exempted  from  paying  the  privilege  tax  to  the  city,  and  after  one  pay- 
ment is  not  required  to  pay  the  same  in  any  year  succeeding  one  in 
which  its  losses  are  more  than  its  net  cash  receipts  in  the  city.  Other 
cities  and  towns  in  the  State  having  an  organizad  fire  departtnent, 
may  also  assess  a  privilege  tax,  but  such  tax  shall  bear  the  same  pro- 


MISSOURI. 


n 


Minlly,  ftnft  with 

)iv(i  »  lirenM  in 

by  illinR  a  Wuml 
M  of  twoiity-nvn 
Unlitor  of  Ktich 
.  uu  tbti  ftruouiit 


mtR  Rhnll  ho  flind 

if  any  iimurannff 
tMct  any  buiinoM 
p(mfK>N.i(t<l  of  at 
capilHl,  itiviwtw] 
)rt^t^K<»H  of  rofti 
is  mortgaged. 

'  whoHp  capital 
nrH,  niURt  dnpoHit 
int.  St«to  bondn, 
jd  SlatoH  bond«. 
id  fifty  thoiuand 
It  dnposit  flftoon 
urronry,  and  t«in 
company  whoso 
t  dn|)OHit  twitnty 
UToncy,  and  five 

;  Ntateniont,  five 

?nt,  fifty  cents. 

tax  of  from  fif- 
s  good  for  entire 

»H  shall  be  levied 
loing  business  in 
uranco  company, 
t  insurance  coin- 
of  Vicksburg  is 
I  and  twonty-fivo 
)any  transacting 
I  of  one  hundred 
if  Vicksburg,  is 
,nd  after  one  pay- 
ucceeding  one  in 
1  the  city.  Other 
fire  departtnent, 
ear  the  same  pro- 


portion to  thA  titx  |t«imltt«l  in  Vicksbufff,  an  th«  net  pmniium 
nKieipU  of  thw  comiMsny  in  aaeh  city  or  town  Ji«ar  to  it«  ».-<t  pr.-iiiiuH, 
rtecipta  in  VIckiilMirg,  or  Hhail  not  iMomHi  nuih  pruiwrtion. 

Pftlftlth'H,  —  Kvery  |Mir*<)u  violating  any  of  thn  provinions  of 
law  relating  to  inRiirMnf«  Hhall,  uiion  conviction  tb«rMof.  in  any  ■:ourt 
of  noinp«»tMnt  juri(Mj|ctU)n,  b«  (imtd  (lv«!  hundred  <loilar«,  and  iinprnon- 
niont  in  the  <rounty  jail  not  moru  than  twiilvn  monthi, 

AHMCaMMKNT    INHDMANOB. 

MifliiMiippi  haM  no  unactnientH  relating  to  aMoument  compatiies. 


MISSOURI. 


(r^lilatur*  rimM  bUuuUllj.    Next  ••■■Ion,  Jiinaary,  imi.| 
U.  v.  Em.khbk,  Suptrintendi-nt  0/  (he  Insurance  Department,  St.  Looii 

Every  company  desiring  to  transact  busiiH'Hs  in  thia  Htate,  Iwfore 
aUmiaaion  Hhall  (lie  with  the  Suporintondtmt 

A  certitiod  copy  of  its  chartor,  or  act  of  incorporation. 

A  statemttnt,  un<lor  the  oath  of  tlu;  prosidont  and  secretary  of  the 
company,  showing  its  condition  and  affairs  on  tho  preceding  (irst  day 
of  January. 

A  copy  of  the  laKt  annual  report,  if  any  was  made  in  compliance 
with  any  law  of  the  State,  or  country,  by  which  such  company  waa 
incorporated. 

A  writton  instrument,  duly  signed  and  sealed,  authorizing  the 
Superintendent  of  the  Insurance  Department  to  acknowledge  and 
receive  wsrvico  of  procfwa,  and  conHcnting  that  .service  of  procosH  on 
hire  shall  b«i  taken  and  held  to  be  an  valid  um  if  served  upon  the  com- 
pany, and  in  case  such  company  Hliall  cease  to  transact  business  in 
this  State,  he  shall  be  held  to  continue  attorney  of  such  company  for 
the  service  of  process. 

CertipCdteM  find  ^f/fM^w.--  Every  company,  previous  to 
transacting  business  in  this  Htate,  shall  procure  from  the  Superintend- 
ent a  certificate,  stating  that  such  company  has  complied  with  the  re^ 
quiroments  of  law,  and  authorizing  it  to  ilo  business  in  this  State, 

A  certified  copy  of  such  certificate  shall  be  held  by  every  agent  or 
solicitor  doing  business  for  the  company  within  the  State,  and  shall  in 
some  convenient  manner  give  the  name  of  the  agent  or  solicitor  for 
whbse  use  it  is  issued.  Such  certificate  shall  be  annually  renewed  and 
a  copy  of  such  renewal  furnished  each  agent  or  solicitor. 

Mjcam  I  nations  and  ImpatrmentH.— The  Superintend- 
ent  may  at  any  time  examine  the  affairs  and  condition  of  any  company 
doing  business  in  the  State.  Whenever  it  shall  appear  from  such  ex- 
amination, or  from  the  statements  of  the  company,  that  the  affairs  of 


60 


MISSOURI. 


bs 
m 

i 


i'ti'. 


Sjl:i 


any  such  company  are  in  an  unsound  condition,  or  that  its  capital  or 
fund  is  impaired,  or  the  Superintendent  has  reasonable  cause  to  sus- 
pect that  the  further  continuance  of  the  business  of  the  said  company 
IS  hazardous  to  the  public  or  to  those  holding  its  policies,  he  may  sus- 
pend or  revoke  the  certificate  granted  to  the  company  and  shall  cause 
notice  thereof  to  be  published  in  some  newspaper  published  in  St. 
Louis. 

Mre  and  Marine.  — 'S^yery  joint  stock  company  shall  pos- 
Bess  a  paid-up  capital  stock  of  at  least  two  hundred  thousand  dollars. 

Annual  statements  shall  be  filed  on  the  first  day  of  January, 
in  each  year,  or  within  thirty  days  thereafter,  showing  the  affairs 
and  condition  of    the  company  on  the  preceding  thirty-first  day  of 

December.  v-  .     • 

Missouri  has  a  valued-policy  law,  and  an  anti-trust  law  which  is 
construed  by  the  State  ofiBcials  to  apply  to  insurance  companies. 

jjlfe,  —  Every  stock  company  must  possess  an  actual  paid-up  cap- 
ital of  one  hundred  thousand  dollars,  and  every  mutual  company  must 
possess  assets  to  the  amount  of  one  hundred  thousand  dollars. 

Evary  company  must  have  on  deposit  with  the  proper  officer  of  the 
State  where  it  is  incorporated,  for  the  security  of  all  its  policy-liolders, 
one  hundred  thousand  dollars  in  stocks  and  bonds  of  tho  United 
States,  or  of  tho  State  where  it  is  incorporated,  or  of  this  State,  or 
loaned  on  bonds  or  notes  secured  by  mortgages  of  unencumbered  real 
estate,  worth  double  the  amount  loaned,  and  must  filw  with  the  Super- 
intendent a  certificate  under  the  hand  and  official  seal  of  the  officer 
holding  such  deposit,  certifying  that  ho  holds  in  trust  and  on  deposit 
for  the  benefit  of  all  policy-holaers  o^.  the  company  such  stock  and 
securities,  and  stating  their  charh,ct.ev,  and  that  he  is  satisfied  they  are 
worth  one  hundred  thousand  dollars. 

Annual  statements  must  be  filed  on  the  first  day  of  Ja,nuary  in 
each  year,  or  within  thirty  days  thereafter,  showing  the  condition  of  the 
company  on  the  preceding  thirty-first  day  of  December. 

Life  insurance  companies  must  not  do  any  other  kind  of  business 
except  the  takitg  of  life  risks,  issuing  endowment  policies,  and  annuity 

bonds. 

Misrepresentations  made  upon  procuring  a  policy  of  insurance 
upon  life  shall  not  be  deemed  material  or  render  the  policy  void,  unless 
the  matter  misrepresented  shall  actually  contribute  to  the  contingency 
or  event  on  which  the  policy  is  to  become  due  and  payable. 

In  suits  upon  life  poHcies,  nc  defense  based  up  ^n  misrepresenta- 
tions in  obtaining  the  same  shall  be  valid,  unless  the  defendant  com- 
pany shall  at  or  before  the  trial  deposit  in  court,  for  the  benefit  of  the 
plaintiffs,  the  premiums  received  on  such  policy. 

In  suits  upon  life  policies  it  shall  be  no  defense  that  the  insuted 
committed  suicide  unless  it  shall  be  shown  that  the  insured  contem- 
plated suicide  at  the  time  he  made  his  application  for  the  policy,  and 
any  stipulation  in  the  policy  to  the  contrary  shall  be  void.  All  policies 
issued  after  August  1,  1879,  by  any  company  authorized  to  do  busi- 
nesf'  in  the  State  after  the  payment  of  two  or  more  annual  premiums 
are  not  forfeitable  for  failure  to  pay  premiums.     Such  policies  are  to 


MISSOURI. 


it 


hat  its  capital  or 
i\e  cause  to  sus- 
he  said  company 
cies,  he  may  sus- 
f  and  shall  cause 
published  in  St. 

upany  shall  pos- 
3usand  dollars, 
ay   of   January, 
iwing  the  affairs 
lirty-firat  day  of 


ist  law  which 
lompanies. 


IS 


itual  paid-up  cap- 

al  company  must 

1  dollars. 

aper  oflicer  of  the 

.ts  policy- f I' >lder8, 

of   tho    United 

of  this  State,  or 

lencumbered  real 

b  with  the  Super- 

Bal  of  the  officer 

3t  and  on  deposit 

such  stock  and 

satisfied  they  are 

ly  of  January  in 

le  condition  of  the 

)er. 

■  kind  of  business 

iicies,  and  annuity 

icy   of    insurance 

[jolicy  void,  unless 

3  the  contingency 

jyable. 

I  yu  misrepresenta- 

e  defendant  com- 

the  benefit  of  the 

e  that  the  insuied 
',  insured  contem- 
br  the  policy,  and 
roid.  All  policies 
»rized  to  do  busi- 
annual  premiums 
ich  policies  are  to 


be  carried  for  the  full  amount  for  such  period  as  three-fourths  the  net 
value  of  tho  policy  calculated  at  four  and  one-haif  per  cent.,  less  any 
indebtedness  to  the  company  for  premiums  on  said  policy  by  note  or 
otherwise  will  pay  for  taken  as  a  net  single  premium.  The  holder  of 
such  policy  may  within  sixty  days  demand  a  paid-up  policy. 

Accident  and  Plate  Glass  insurance  companies  must  have 
a  paid-up  capital  of  one  hundred  thousand  dollars. 

foreign.  —  Every  life  insurance  company  must  either  deptsit  in 
this  State  or  in  some  one  of  the  other  States  of  the  United  States,  for 
the  benefit  of  the  policy-holders  of  such  company,  citizens  or  residents 
of  the  United  States,  one  hundred  thousand  dollars  in  safe  stocks  or 
securities. 

Companies  other  than  life  (except  plate  glass  and  accident  com- 
panies), shall  have  on  deposit  not  less  than  two  hundred  thousand 
dollars. 

When  such  deposit  is  made  in  some  other  State,  a  certificate  shall 
be  filed  with  the  Superintendent,  under  the  hand  and  official  seal  of 
the  officer  holding  such  deposit,  certifying  that  he  holds  in  trust  and 
on  deposit  for  the  benefit  of  all  the  policy-holders  of  such  company, 
citizens  or  residents  of  the  United  States,  such  stocks  or  securities, 
and  stating  the  kind  and  amount  of  each,  and  that  he  is  satisfied  they 
are  worth  two  hundred  thousand  dollars. 

Annual  statements  must  be  filed  on  the  first  day  of  January  in  each 
year,  or  within  sixty  days  thereafter,  showing  the  affairs  and  condi- 
tion of  the  United  States  branch  of  the  company  on  the  preceding 
thirty-first  aay  of  December.  Deposits  are  treated  as  capital  when 
made  for  the  benefit  of  all  policy-holders  in  the  United  Stateo.  Home 
office  statements  of  foreign  companies  shall  be  filed  at  such  times  as 
may  be  required  by  the  Superintendent  of  Insurance. 

Licenses*  —  The  agen*.  or  agents  of  any  insurance  company 
doing  business  in  any  city  in  this  State  having  a  population  of  more 
than  one  hundred  thousand  shall,  on  or  before  the  first  day  of  Febru- 
ary in  each  year,  pay  to  the  collector  of  such  city  the  sum  of  one 
hundred  dollars,  and  such  collected  shall  issue  a  license  to  such  agent 
or  agents. 

JB'ees, — For  filing  statement  and  certified  copy  of  charter,  fiftv 
dollars.  ^ 

B'or  filing  annual  statement,  thirty  dollars. 

F'or  filing  supplementary  statements,  ten  dollars. 

B'or  .fihng  any  other  paper  required  to  be  filed,  ten  dollars. 

for  agent's  certificate,  two  dollars. 

For  furnishing  copies  of  records,  papers,  or  documents  on  file, 
twenty  cents  per  folio. 

For  affixing  seal  of  office,  one  dollar. 

For  valuation  of  policies,  ten  dollars  for  each  million  dollars  of 
insurance,  or  fractional  part  thereof. 

Reciprocal  provision. 

In  case  the  expenses  of  the  department  shall  exceed  the  amount 
of  fees  collected,  the  Superintendent  shall  annually  assess,  upon  all 
11 


§3 


MISSOURI. 


m 


companies  doing  buainosa  in  this  Stato,  a  sum  equal  to  such  excess. 
Such  asaessmonts  shall  be  made  in  proportion  to  the  relative  amouata 
of  the  assets  of  each  company. 

Taxes.—  Every  company  shall  annually  on  or  before  the  thirty 
first  day  of  January,  make  a  sworn  return  to  the  Superintendent  of  all 
premiums  received  by  the  company  in  cash  or  notes  in  each  county  of 
the  State  and  in  the  city  of  St.  Louis,  during  the  year  ending  on  the 
thirty-first  day  of  December  preceding,  and  the  amount  of  return  pre- 
miums and  losses  actually  paid  during  the  year  in  this  State,  and  shall  • 
pay  a  tax  of  one  per  cent,  upon  tlie  excess  of  such  premiums  over  such 
losses  and  return  premiums.  This  tax  shall  be  paid  to  the  State  Treas- 
urer on  or  before  the  first  day  of  April  following. 

Every  company  shall  also,  on  or  before  the  first  day  of  February 
in  each  year,  deposit  with  the  Assessor  of  the  county  and  of  the  city  or 
town  in  which  any  such  office  or  agency  of  such  company  is  located,  a 
statement,  veufied  by  the"  oath  of  the  agent  of  such  company,  showing 
the  whole  amount  of  premiums  received  in  such  county,  city,  or  town, 
deducting  all  return  premiums  and  cash  actually  paid  by  such  com- 
pany for  losses  received  in  such  county,  city,  or  town  during  the  year 
ending  on  the  first  day  of  January  preceding.  Such  premiums  are 
subject  to  the  same  taxes  as  other  property  in  the  county,  city,  or 
town  in  which  such  office  or  agency  is  located. 

Reciprocal  provision. 

Penalties.—  Any  agent  neglecting  to  pay  the  fees  or  taxes  prop- 
erly assessed  upon  his  company  shall  be  subject  to  a  fine  of  two  hun- 
dred dollars. 

Any  company  neglecting  to  pay  any  fees  or  taxes  for  ten  days 
after  demand,  made  in  writing,  shall  be  liable  to  pay  double  the 
amount  thereof.  .  ,  i      • 

Any  violation  of  the  provisions  of  law  shall  subject  the  party  vio- 
lating  to  a  penalty  of  not  less  than  fifty  nor  more  than  five  hundred 

dollars.  «        * 

Agents  doing  business  without  authority  are  subject  to  a  hne  oi 
not  less  than  ten,  nor  more  than  one  hundred  dollars,  or  to  imprison- 
ment not  less  than  ten  days,  nor  more  than  six  months,  or  both. 


■*h 


ASSESSMENT   INSURANCE. 

Admission.— A.  company  applying  for  admission  shall  deposit 
with  the  superintendent  of  the  insurance  department,  a  certified  copy 
of  its  charter,  a  statement  under  oath  of  its  president  and  ^cretary 
in  the  form  by  the  said  superintendent  required,  of  its  business  for 
the  preceding  year ;  a  certificate  under  oath  of  its  president  and  secre- 
tary that  it  is  paying,  and  for  the  twelve  months  next  preceding  has 
paid,  the  maximum  amount  named  in  its  policies  or  certificates  in  full ; 
a  certificate  from  the  proper  authority  in  its  home  State  that  corpora- 
tions of  this  State  engaged  according  to  the  provisions  of  this  act  in 
life  or  casualty  insurance  on  the  assessment  plan  are  legally  entitled 
to  do  business  in  such  State  ;  a  copy  of  its  policy  or  certificate,  and 
application,  which  must  show  that  benefits  are  in  the  nain  provided 


^-jm-i^.^f^^ff^*.^t<"-.m-J:t^m-Ff9*^^m.<!*li.0M»\- 


MONTANA. 


88 


to  such  excess, 
ilative  amouQts 


jfore  the  thirty- 
•intendent  of  all 
I  each  county  of 
r  ending  on  the 
It  of  return  pre- 
State,  and  shall  • 
niums  over  such 
I  the  State  Treaa- 

ay  of  February 
,nd  of  the  city  or 
any  is  located,  a 
mpany,  showing 
by,  city,  or  town, 
id  by  such  com- 

during  the  year 
li  premiums  are 

county,  city,  or 


108  or  taxes  prop- 
flne  of  two  hun- 

:es  for  ten  days 
pay  double  the 

ect  the  party  vio- 
iian  five  hundred 

)ject  to  a  fine  of 
,  or  to  imprison- 
s,  or  both. 


ision  shall  deposit 
;,  a  certified  copy 
int  and  secretary 
E  its  business  for 
esident  and  secre- 
ixt  preceding  has 
sertificates  in  full ; 
bate  that  corpora- 
ons  of  this  act  in 
re  legally  entitled 
or  certificate,  and 
tie  nain  provided 


for  by  assessraonts  upon  policy  or  certificate  holders,  evidence  satisfac- 
tory to  the  said  superintendent  that  the  corporation  accumulates  a 
fund  equal  in  amount  to  the  maximum  policy  or  cortificato  which  it 
issues,  that  such  accumulation  is  permitted  by  the  law  of  its  incopo ra- 
tion and  is  a  trust  for  the  benefit  of  policy  or  certificate  holders  only 
and  is  securely  invested.  The  authority  of  such  corporation  to  do 
business  in  this  State  shall  bo  revolted  whenever  the  said  superintend- 
ent, on  investigation,  is  satisfied  that  such  corporation  is  not  paying 
the  maximum  amount  named  in  its  policies  or  certificates  in  full. 

Policies  or  certificates  must  not  be  issued  upon  persons  over  sixty 
years  of  age,  nor  without  the  beneficiaries  have  an  insurable  interest, 
nor  shall  any  endowments  be  issued,  and  all  calls  for  payments  by  cer- 
tificate holders  must  distinctly  state  the  purposes  of  the  same. 

Annual  Statements  —  Shall  be  made  on  or  before  the  first  of 
February,  of  the  business  for  the  year  ending  December  3l8t. 

The  superintendent  has  power  to  visit  and  examine  the  same  as  in 
other  insurance  companies. 

Fees. —  The  fees  for  issuing  certificates  of  authority  to  do  busi- 
ness, and  for  filing  annual  statements,  shall  in  each  of  aforesaid 
cases  be  the  sura  of  twenty-five  dollars,  and  the  fees  and  costs  of  ex- 
amination shall  bo  the  same  and  paid  by  the  company  in  like  manner  as 
now  provided  by  law  for  the  examination  of  life  insurance  companies. 

Penalties. —  For  doing  business  without  authority,  not  exceed- 
ing five  hundred  dollars  and  imprisonment. 

False  statements  regarding  proofs  of  death  sworn  to  by  agents  or 
medical  examiners  is  made  perjury. 


MONTANA.* 


Admission. —  Every  company  must  possess  an  actual  capital  of 
two  hundred  thousand  dollars,  exclusive  of  special  deposits  ;  shall  ap- 
point one  attorney  in  each  county  in  which  agencies  are  established, 
resident  at  the  county  seat,  and  shall  file  with  the  Territorial  Auditor 
a  written  instrument,  duly  signed  and  sealed,  authorizing  such  attorney 
of  such  company  to  acknowledge  service  of  process,  consenting  that 
such  service  of  process,  mesne,  or  final  upon  such  attorney,  shall  be 
taken  and  held  as  valid  as  if  served  upon  the  company,  and  waiving 
all  claims  of  right  or  error  by  reason  of  such  acknowledgment  of  ser- 
vice, and  also  a  certified  copy  of  its  charter  or  deed  of  settlement, 
together  with  a  statement,  under  the  oath  of  the  president  or  vice-presi- 
dent, or  other  chief  ofiBcer,  and  the  secretary  of  the  company  for  which 
they  may  act,  stating  the  name  of  the  company  and  the  place  where 
located,  the  amount  of  its  capital,  with  a  detailed  statement  of  the  con- 
dition of  the  company.     Such  statement  shall  also  show  that  said  com- 


*  There  bas  bean  no  chtnge  in  the  Uws  of  Montsoa  as  yet,  and  we  are  not  advised  of  any 
change  in  Andltor.    Legislature  is  in  session. 


I'TWTTiiiOTnmaQai 


84 


MONTANA. 


pany,  if  organized  without  the  ITnitfld  fltates  of  America,  has  deposited 
in  some  one  of  the  United  States  or  Territories  a  sum  not  less  than  one 


hundred  thousand  dollars  for  the  special  benefit  or  security  of  the 
assured  in  the  United  States  ;  and  shall  file  also  a  copy  of  the  last  an- 
nual report,  if  any,  made  under  any  law  of  the  State,  territory,  or 
foreign  country  by  which  such  company  was  incorporated. 

Certiflrates  and  Aaentn.—  '^f ery  company  complying  with 
the  requireuionts  of  law  sliall  receive  a  certificate  from  the  Auditor. 

Agents  must  have  certificate  of  authority  from  the  Auditor. 
Agents  must,  in  all  advertisements,  publish  the  location  of  the  com- 
pany, and  siiall  not  advertise  any  assets  of  a  fire  insurance  company 
not  applicable  to  its  losses,  nor  unpaid  capital.  Company  must  publish 
Auditor's  certificate  once  in  two  papers  of  general  circulation,  one  of 
which  shall  be  published  at  the  capital. 

Fire  and  Life. —  Annual  statements  must  be  filed  with  the 
Auditor  on  the  first  day  of  January  in  each  year,  or  within  ninety 
days  thereafter,  showing  the  condition  of  the  company  on  the  preced 
ing  thirty-first  day  of  December.     Blanks  will  be  furnished  by  the 
Auditor. 

FMaminationa  and,  Impairments.— 'Y^^q  Auditor,  or 
some  one  appointed  by  him,  shall  have  power  to  examine  companies. 
No  agent  shall  be  allowed  to  transact  business  for  any  company  whose 
capital  is  impaired  twenty  per  cent. 

Fees, —  To  be  paid  to  the  Auditor. 

For  filing  and  examination  of  the  first  application  of  any  company, 
and  issuing  the  certificate  of  license  thereon,  fifty  dollars. 

For  filing  each  annual  statement  herein  required,  twenty-five  dollars. 

For  each  certificate  of  authority,  two  dollars. 

For  every  copy  of  paper  filed,  ten  cents  per  folio,  and  fifty  ceiits 
for  certifying  to  the  same,  and  aflGxing  the  seal  of  ofiBce  thereto. 

Reciprocal  provision.     For  examinations,  necessary  expenses. 

Penalties.— For  failure  to  conform  to,  or  for  violation  of  laws, 
a  fine  not  to  exceed  one  thousand  dollars,  and  imprisonment  not  ex- 
ceeding six  months. 

Taxes. —  Bach  and  every  insurance  company  transacting  business 
in  this  territory  shall  be  taxed  upon  the  excess  of  premiums  received 
over  losses  and  ordinary  expenses  incurred  within  the  territory  during 
the  year  previous  to  the  year  of  listing  in  the  county  where  the  agent 
conducts  the  business,  properly  proportioned  by  the  company  at  the 
same  rate  all  other  personal  property  is  taxed,  and  the  agent  8h»Ul 
render  the  list,  and  be  personally  liable  for  the  tax  ;  and  if  he  refuses 
to  render  the  list,  or  to  make  affidavit  that  the  same  is  correct  to  the 
best  of  his  knowledge  and  belief,  the  amount  may  be  assessed  accord- 
ing to  the  best  knowledge  and  discretion  of  the  assessor,  and  the  county 
board  of  equalization  may,  at  their  discretion,  add  fifty  per  cent,  to  the 
amount  returned  by  the  assessor.  Insurance  companies  shall  be  sub 
ject  to  no  other  taxation  under  the  laws  of  this  territory,  except  tft.ies 
on  real  estate,  and  the  feas  imposed  as  above. 


»!»1!  llfi!<^aigSyA.-aWSi»l!Jt&«!.taMilSBirwJ:U 


JL 


NEBRASKA. 


85 


a,  has  deposited 
ot  less  than  one 
security  of  the 
r  of  the  last  an- 
te, territory,  or 
ted. 

complying  with 
the  Auditor. 
1  tho  Auditor, 
ion  of  the  com- 
irance  company 
ny  must  publish 
'culation,  one  of 

filed  with  the 
r  within  ninety 
jr  on  the  preced 
irnished  by  the 

rhe  Auditor,  or 
nine  companies, 
company  whose 


at  any  company, 

Eirs. 

enty-five  dollars. 

,  and  fifty  cents 
B  thereto, 
y  expenses. 

iolation  of  laws, 
sonment  not  ex- 

isacting  business 

emiums  received 

territory  during 

where  the  agent 

company  at  the 

the  agent  shall 

,nd  if  he  refuses 

is  correct  to  the 

assessed  accord- 

r,  and  the  county 

y  per  cent,  to  the 

ies  shall  be  sub 

jry,  except  tft.;e8 


ASSESSMENT    INSURANCE. 

AfJmiftHion.—  The  papers  for  admission  must  show  that  the  com- 
pany  ai)plying  has  deposited  not  less  than  fifty  thousand  dollars  with 
the  proper  authorities  of  its  own  State  as  a  guarantee  fund  for  tha 
security  of  its  members.  It  must  also  deposit  with  the  Auditor  a  cer- 
tified copy  of  Its  charter  or  articles  of  incorporation,  a  copy  of  its  state- 
ment of  busmoss  for  the  preceding  year,  sworn  to  by  its  president  and 
secretary  or  hJce  officer,  showing  a  detailed  account  of  expenses  and 
income,  the  amount  of  life  indemnity  in  force,  its  assets  and  liabilities. 
xn  detail,  number  of  members,  and  a  certificate,  sworn  to  by  the  presi- 
dent and  secretary,  or  like  officers,  setting  forth  that  an  ordinary  as^esH- 
ment  upon  its  members  is  sufficient  to  pay  its  maximum  certificate  of 
membership  to  the  full  limit  named  therein ;  a  cop-r  of  its  policy  or 
certificate  of  membership,  application  and  by-laws,  which  must  show 
that  death  losses  3  in  the  main  provided  for  by  assessments  upon  the 
surviving  members ;  and  it  shall  legally  designate  a  person  or  agent 
residing  m  the  territory  to  receive  service  of  process  for  said  corpora- 
tion. Also  that  benefits  are  only  paid  to  persons  having  an  insurable 
interest.  ° 

Annual  Statements  must  ho  filed  on  or  before  March  Ist  in 
each  year,  on  blanks  furnished  by  Auditor. 

Fees.—  For  filing  preliminary  papers,  one  hundred  dollars. 
For  fihng  annual  statements,  twenty-five  dollars. 

Penalties.—  Agents,  for  doing  business  for  unauthorized  com- 
panies, are  subject  to  a  fine  not  exceeding  one  thousand  dollars  or 
imprisonment  not  exceeding  ono  year,  or  both,  ' 


NEBRASKA. 

[LeglBtatnre  meeto  biennially.    Next  seseion,  January  1, 1891.] 
T.  H.  Benton,  Auditor  of  Public  Accounts,  Lincoln. 

A  'J,}-:  *  i'ision.  ~  Every  company  desiring  to  transact  business  in 
this  S    it    I.  fore  admission  shall  file  w^th  the  Auditor 

A  '-ertijad  copy  of  its  charter,  act  of  incorporation,  or  deed  of 
settlemP'it 

A  statement  under  the  oath  of  the  president,  vice-president,  or 
other  chief  officer  and  secretary  of  the  company,  showing  its  name, 
location,  capital,  and  also  its  assets  aad  liabilities,  in  detail. 

A  copy  of  the  last  annual  roport,  if  any  .:iade,  under  any  law  of 
the  State  by  which  the  company  was  incorporated. 

E'-ery  life  company  shall  also  file  a  written  instrument  under  the 
seal  of  the  company,  signed  by  the  president  and  secretary,  authoriz- 
ing an  agent  of  the  company  to  acknowledge  service  of  process,  and 
consanting  that  service  of  process  upon  such  agent  shall  be  taken  and 


1 


86 


NEBRASKA. 


held  to  be  as  valifi  as  if  Bcrved  on  the  company,  and  waiving  all  claims 
of  error  by  reason  of  euch  service. 

Tm-,  inarino,  and  other  companies  shall  appoint  an  attorney  resi- 
dent at  thp  county  seat  of  each  county  in  which  the  company  shall 
establish  agencies,  and  shall  file  with  the  Auditor  a  written  instrument 
authorizing  such  attorney  to  acknowledge  service  of  process  for  and 
in  behalf  of  the  company,  and  consenting  that  service  of  process  upon 
such  attorney  shall  be  taken  and  hold  to  be  as  valid  as  if  served  upon 
the  con  i['Hny,  and  waiving  all  claim  of  error  by  reason  of  such  service. 

Cevilflcatea  and  AffentH.  —  Evory  company  (except  a  life 
company)  shall  procure  a  certificate  from  the  Auditor,  showing  that 
the  company  has  complied  with  all  the  requirements  of  law  relating 
to  insnrance,  and  such  certificates  shall  be  published  once,  in  two 
rit;  vspapers  of  general  circulation,  one  of  which  newspapers  shall  be 
puL'lished  at  -tw  capital  of  the  State. 

The  agent  of  every  life  company  shall  procure  from  the  Auditor  a 
certificate,  and  file  the  same,  together  with  a  copy  of  the  statement 
filed  with  the  Auditor,  in  the  office  of  the  clerk  of  the  county  in  which 
he  or  they  may  debire  to  establish  an  agency  for  any  such  company. 
Such  statement  and  certificate  shall  be  published  one  week  in  one 
daily,  and  four  weeks  in  one  weekly  newspaper,  published  in  the 
county  in  which  such  agency  is  established ;  if  no  daily  paper  be  pub- 
lished in  such  county,  then  such  publication  shall  be  sufficient  if  made 
in  one  weekly  newspaper  as  aforesaid;  if  no  weekly  newspaper  be 
published  in  the  county,  then  such  publication  shall  be  made  in  one 
weekly  newspaper  of  this  State,  of  most  general  circulation  in  such 
county. 

Every  .^gent  before  transacting  business  shall  procure  from  the 
Auditor  a  certificate  of  authority. 

All  certificates  shall  be  renewed  annually,  and  shall  annually  be 
filed  and  published  as  aforesaid. 

Every  agent  of  any  company,  in  all  advertisements  of  such  agency, 
shall  publish  the  location  of  the  company,  giving  the  name  of  the  city, 
town,  or  village  in  which  the  company  is  located,  and  of  the  State  or 
government  under  the  laws  of  which  it  is  organized. 

Examinations  and  Impairments.— T^he  Auditor,  when- 
ever he  shall  deem  it  expedient,  may  examine  into  the  condition  and 
affairs  of  any  company  doing  business  in  this  State.  Whenever  the 
Auditor  shall  deem  it  for  the  best  interest  of  the  public,  he  shall  pub- 
lish the  result  of  such  examination  in  one  or  more  papers  of  this 
State.  If  it  shall  appear  to  the  satisfaction  of  the  Auditor  that  the 
affairs  of  any  such  company  are  in  an  unsound  condition,  he  shall 
revoke  the  certificate  granted  in  behalf  of  such  company;  and  shall 
cause  the  notification  thereof  to  be  published  in  some  nevspap-ir  of 
general  <;irculation  published  at  the  State  capital. 

No  fire  or  marine  cbm^any  can  transact  business  in  this  State  if, 
after  the  company  is  charged  with  its  proper  liabilities  and  the  sum 
requisite  for  re-insurance  ascertained  as  required  by  law,  its  capital 
stock  is  impaired  to  the  extent  of  twenty  per  cent,  thereof. 


I  J- 


•■■-:va»i 


NEBRASKA. 


87 


,iving  all  claims 

1  attorney  resi- 
company  shall 
tton  instrument 
process  for  and 
of  procesg  upon 
;  if  served  upon 
of  such  service. 

y  (except  a  life 
ir,  showing  that 
of  law  relating 
d  once,  in  two 
tpapers  shall  be 

n  the  Auditor  a 
if  the  statement 
county  in  which 
such  company, 
le  week  in  one 
lublished  in  the 
ly  pajier  be  pub- 
ufficient  if  made 
y  newspaper  be 
be  made  in  one 
culation  in  such 

rocure  from  the 

hall  annually  be 

I  of  such  agency, 

lame  of  the  city, 

of  the  State  or 


ie  Auditor,  when- 
ie  condition  and 
Whenever  the 
)lic,  he  shall  pub- 
e  papers  of  this 
Auditor  that  the 
ndition,  he  shall 
mpany;  and  shall 
one  nevspap'ir  of 

in  this  State  if, 
;ies  and  the  sum 
Y  law,  its  capital 
\ereof. 


I  J. 


Fire  and  Marine,  —  Ever"  company  must  possess  an  actual 
paid-up  capital  of  two  hundred  thousand  dollars,  exclusive  of  a»y 
•saets  deposited  in  any  other  State  or  territory,  for  the  special  benolit 
or  security  of  the  insured  therein. 

Every  such  company  must  also  have  on  deposit,  in  some  one  of  tfaw 
United  States  or  territories,  a  sum  not  less  than  twenty-five  thousand 
dollars,  for  the  special  benefit  and  security  of  the  insured  therein. 

Annual  statements  shall  be  filed  on  the  first  day  of  January  in  each 
year,  or  within  thirty  dtiys  thereafter,  showing  the  condition  and 
business  of  the  company  on  the  preceding  thirty-first  day  of  December. 

The  re-insurance  fund  shall  bo  computed  at  forty  per  cent,  of  the 
premiums  on  all  unexpired  risks. 

Nebraska  has  a  valued-policy  law. 

Life.  —  Every  company  must  possess  assets,  properly  invested,  to 
the  amount  of  one  hundred  thousand  dollars. 

Annual  statements  shall  be  filed  in  the  month  of  January  in  each 
year,  showing  the  condition  and  affairs  of  the  company  on  the  preced- 
ing thirty-first  day  of  December. 

If  any  such  company  has  made  any  deposits  in  any  other  State  or 
territory  for  the  exclusive  benefit  of  its  policy-holders  therein,  then 
such  company  shall,  on  the  first  day  of  January,  annually,  return 
under  oath  to  the  Auditor  a  statement  showing  the  amount  of  pre- 
miums received  in  this  State  during  the  year  preceding,  and  shall 
deposit  with  the  Auditor,  for  the  benefit  of  the  insured  in  this  State, 
five  per  cent,  of  such  premiums,  either  in  money  or  in  stocks,  or  bonds, 
secured  by  mortgage  of  property  in  this  State,  and  shall  continue 
such  deposit  from  year  to  year,  until  the  sum  of  forty  thousand  dollars 
is  deposited. 

Foreign.  — ^vetj  life  company  shall  furnish  evidence,  to  the 
satisfaction  of  the  Auditor,  that  it  has  invested  in  the  stocks  of  some 
one  or  more  of  the  States  of  this  Union,  or  of  the  United  States,  the 
amount  of  one  hundred  thousand  dollars,  and  that  such  stocks  are 
held  by  citizens  of  the  United  States,  or  in  bonds  secured  by  mort- 
gages of  real  estate  situated  in  the  United  States,  fully  securing  the 
amount  for  which  the  same  is  mortgaged,  or  bonds  of  cities  of  the 
United  States,  the  aggregate  market  value  of  the  investment  of  the 
company  in  which  shall  not  be  less  than  one  hundred  thousand  dollars. 

Deposits.  —  (See  Life  and  Foreign). 

Fees.  —  For  filing  and  examination  of  the  first  application  of  any 
company,  and  issuing  the  certificate  or  license  thereon,  fifty  dollars. 

For  filing  each  annual  statement,  twenty  dollars. 

For  each  certificate  of  authority,  two  dollars. 

For  every  copy  of  any  paper  on  file,  ten  cents  per  folio,  and  fifty 
cents  for  certifying  the  same  and  aflSxing  i  he  seal  of  office  thereto. 

For  examining  companies,  the  actual  e:  penses  incurred. 

Reciprocal  provision. 

Taxes.  —  Each  and  every  insurance  company  transacting  busi- 
ness in  this  State  shall  be  taxed  upon  the  excess  of  premiums  received 


r 


SI 


NEVADA. 


over  losses,  and  ordinary  •xponsos  incurred  within  tho  Stato  ilurmg 
th«  yoar  previoufl  to  the  year  of  listings  in  tho  county  whery  tlin  aKont 
conaucts  tlie  business,  proporly  proportioned  by  tho  company  at  the 
same  rate  that  other  personal  projjerty  is  taxed,  and  the  agent  shall 
render  tho  list  and  be  [jersonally  liable  for  the  tax;  and  if  he  rofuHes 
to  render  the  list,  or  to  make  atlldavit  that  the  same  is  correct,  the 
amount  may  bo  assessed  according  to  the  best  knowledge  and  dis- 
cretion of  the  assessor.  Insurance  companies  shall  Iw  subject  to  no 
other  tax,  foes,  or  licenses  under  tho  laws  of  this  State  except  taxes 
on  real  estate  and  tho  foes  imposed  as  above. 

Tlie  legislature  of  1S89  passed  a  law  which  provides  a  tax  of  two 
per  cent,  on  premiums  for  fire  department  purposes  in  every  city  or 
town  having  organized  departments  properly  equipped,  and  com[.'clii 
agents  to  execute  a  bond  that  they  will  pay  these  taxes. 

ASSBBBMENT    INBURANOB. 

Nebraska  has  no  law  regulating  tho  admission  of  assessment  com- 
panies other  than  secret  benevolent  societies.  All  others  must  comply 
with  the  insurance  laws. 


NEVADA. 


L«g(il»ture  meeti  biennUiUr.    N«zt  rasilon,  Jannur  19, 1891.] 

J.  F.  Hallook,  Stale  Vontroller,  Carbon  City. 

Admiasion.  —  Every  company  must  possess  a  paid-up  cash  cap- 
ital, unimpaired,  of  two  hundred  thousand  dollars,  and  must  file  with 
the  Controller  — 

A  certificate  showing  the  possession  of  such  capital. 

A  power  of  attorney  showing  the  company  to  be  a  duly  organized 
insurer  or  corporation,  the  principal  place  of  business  of  tho  company 
and  its  principal  place  of  business  for  the  Pacific  coast,  and  authoriz. 
ing  a  citizen  and  resident  of  the  State  to  act  as  its  attorney,  upon 
whom  all  legal  process  may  be  served.  In  case  of  death,  or  remoVal 
of  such  person  from  the  State,  legal  service  of  process  against  such 
company  may  be  made  upon  the  Controller. 

The  Controller  may  require  the  filing  of  a  certified  copy  of  the 
charter  of  such  company. 

Annual  Statementa.  —  'SiveTy  insurance  company,  of  what, 
ever  kind  or  character,  and  every  mutual  life  or  assessment  association, 
except  charitable  secret  societies  issuing  benefits  to  its  own  members 
only,  shall  annually,  during  the  month  of  January,  file  in  the  oflSce  of 
the  State  Controller  a  statement,  signed  and  sworn  to  by  its  president 
and  secretary,  which  shall  exhibit  its  financial  condition  on  the  thirty- 
first  day  of  December  of  the  previous  year,  and  shall  include  a  detailed 
statement  of  its  assets  and  liabilities,  the  amount  and  character  of  its  busi- 
ness transacted  and  moneys  received  and  expended  during  that  year,  spe- 
cifying particularly  its  business  transacted  in  Nevada,  and  such  other 


,.  mmmusmmmim'M'i.mA'. — 


"^Jii 


NEVADA. 


HI) 


\\'^  Rtata  (luring 
whery  tlio  aKont 
company  at  the 
tlin  ngonl  Bhull 
nd  it  ho  rofum-H 
0  in  correct,  the 
wlodgo  and  dis- 
M  subject  to  no 
ate  except  taxes 

ies  a  tax  of  two 
in  every  city  or 
eri,  and  comi-'cld 

)8. 


aflseanment  com- 
lers  must  comply 


1, 1891.] 

City. 

paid-up  cash  cap- 
nd  must  file  with 

tal. 

a  duly  organized 
9  of  the  company 
ast,  and  authoriz. 
ts  attorney,  upon 
ieath,  or  remoVal 
cese  against  such 

iified  copy  of  the 

smpany,  of  what. 
3ment  association, 
its  own  members 
lie  in  the  oflSce  of 
,0  by  its  president 
tion  on  the  thirty- 
include  a  detailed 
aracter  of  its  busi- 
ring  that  year,  spe- 
a,  and  suck  other 


mformation  h«  the  State  Controller  may  deem  necessary  to  elicit  a  com- 
plete and  accurate  exhibit  of  itH  condition  and  tranHactioiiB,  and  in 
Huch  form  aH  ho  may  proscrilw!.  Thn  unnual  statomont  of  a  company 
of  u  foreign  country  Hhall  orabracu  only  its  buMJuoHH  and  cDtidition  in 
the  United  .StatoH,  and  Hhull  bo  subscribed  and  sworn  to  by  its  rosi. 
dent  manager  or  principal  representative  in  charge  of  its  American 
business.  The  transaction  of  any  new  business  by  any  company,  or 
Its  agents,  after  noglo«;l  to  fllo  a  statement  ia  the  manner  heroin  pro- 
vided, shall  be  unlawful. 

Certt/if'at('M.--EvQrycompa.ny,  before  transacting  business  in 
the  State,  must  procure  from  the  Controller  a  cerliflcato  of  authority. 

BxamlnattonH  and  Impah'tnentM.  — Upon  the  written 
representation  of  three  citizens,  and  the  belief  of  the  Controller,  that 
any  company  hat.  less  than  two  hundred  thousand  dollars  paid-up  un- 
impaired cash  capital,  ho  shall  inaice  investigation,  or  require  proof  of 
the  financial  condition  of  any  company.  The  certificate  of  the  insur- 
ance officer  of  any  State  having  an  insurance  department  shall  bo  suf- 
ficient  evidence  of  the  possession  of  said  capital  unimpaired,  if  such 
certificate  on  request  is  not  furnished  in  sixty  days,  the  Controller  may 
revoke  the  certificate  of  such  company  to  do  business  in  this  State. 

I/tfe.  —  The  requirement  of  capital  paid  up  shall  not  apply  to 
mutual  life  insurance  companies  having  assets  to  the  amount  of  one 
inillion  dollars  or  more.  Any  company  having  outstanding  policies  in 
this  State  may  appoint  agents  solely  to  collect  premiums,  if  it  shall  ap- 
point  an  attorney  and  file  such  appointment  with  the  Controller.  The 
Controller  will  then  issue  a  certificate  authorizing  agents  to  make  such 
collection. 

Foreif/n,  —  Company  must  have  invested  or  deposited  in  the 
United  States,  for  benefit  of  policy-holders  therein,  two  hundred  thou- 
sand  dollars  in  excess  of  its  liabilities  in  the  United  States. 

Fire.  —  In  case  of  total  loss,  if  the  amount  thereof  is  ascertained 
to  be  less  than  the  amount  insured,  the  insurer  shall  return  to  the  in- 
sured the  unearned  premium  for  the  excess  of  insurance  over  loss. 

License  and  Fees. 

license  one  hundred  dollars. 

For  filing  power  of  attorney  and  issuing  certificate,  five  dollars. 

PenalUes.  —  Any  company  that  neglects  to  make  and  file  its 
annual  statement  in  the  form  and  within  the  time  provided  shall  for- 
feit one  hundred  dollars  for  each  day's  neglect,  and  upon  notice  by 
the  State  Controller  to  that  effect,  its  authority  to  do  new  buciness  shall 
cease  while  such  default  continues.  For  willfully  making  a  false  an- 
nual  or  other  statement  it  is  required  by  law  to  make,  an  insurance 
company  and  the  persons  making  oath  to  or  subscribing  the  same  shall 
severally  be  punished  by  fine  of  not  less  than  five  hjindred  nor  more 
than  five  thousand  dollars. 

Id 


•  Each  company  must  pay  for  an  annual 


I 


90 


stvr  UAMrsmiiK. 


AHMKMHMKNT    INHIIHANOR, 


AdmiMMlon,  —  Mutual  lift,  midowiuont  and  a<K'!idonl  Miocia- 
tions,  condiictod  wholly  on  ih«  iMwimHtnniit.  pUii,  iluly  IncorporattKl  ftiid 
ofKaiiiwid,  hIihII  not  be  riMiuirml  l.o  malco  ii  nhowin^  of  Ott|)itttl  stock, 
but  shull  lio  pormiltod  to  do  buHiiioHs  in  tliiH  Statu  upon  tlio  following 
condilioiiH  only:  Thoy  mIuiII  oach  pay  into  tho  Treasury  of  tli«  State 
under  the  dirccaion  and  to  tho  saiisfaotion  of  the  Statn  Controller,  the 
8um  of  two  hiuidred  dollarH  [wr  annum;  u\m\  the  payment  of  wiid  Hum 
the  State  Controller  Hliall  isHUO  to  Huch  life  aHSociation  a  licetmo,  duly 
verified  under  his  hand  and  attottted  by  W\h  Heal  of  olllce  authorizing 
such  (iHMociation  to  do  buHuioHS  in  this  State  for  the  period  of  one  year 
from  tho  date  thereof,  and  Hubjo:;t  to  tho  provisions  of  an  Act  entitled 
"An  Act  to  liconMe  and  regulate  insurance  buniness  in  this  State," 
approved  February  23,  18HI,  except  so  far  m  in  thi8  Act  sijecial  pro- 
vision is  made. 


NEW  HAMPSHIRE. 

[LagtiUlnre  nie«U  bknnUlly.    N«xt  iiviiiilon,  ITInl  Wadnetday  of  .linuary,  1H9I.] 
Hknuy  H.  Husk,  Insurance  Comtnisatoner,  Concord. 

AilmlMtilon, —  Every  company  desiring  to  do  business  in  this 
State,  before  admission  must  file  with  the  Commissioner  — 

A  certified  copy  of  its  charter  and  by-laws. 

A  statement  under  the  oath  of  tho  president  and  secretary,  showing 
the  condition  and  affairs  of  the  company. 

Every  such  company  heretofore  admitted  to  do  business  in  this 
State  prior  to  March  first,  1876,  and  every  company  applying  for  ad- 
mission, shall  file  with  the  liisurance  Commissioner  a  written  stipula- 
tion, duly  authenticated  by  the  company,  agreeing  that  any  legal  pro- 
cess affecting  the  company  served  on  the  Insurance  Commissioner  for 
the  time  being  shall  have  the  same  effect  as  if  served  personally  on 
the  company  within  this  State.  When  process  is  served  on  the  Com 
missioner  ho  shall  make  a  memorandum  of  the  fact  and  inform  the 
company  by  letter  addressed  to  its  principal  office  in  this  country,  and 
shall  on  the  next  day  forward  the  copy  of  process  served  upon  him  to 
tho  company. 

If  any  company  neglect  to  pay  any  final  judgment  against  it  for 
thirty  days  after  demand  is  made  for  the  same  upon  the  attorney  of 
the  company,  the  Commissioner  shall  suspend  the  business  of  the  com- 
pany in  this  State  until  such  judgment  is  paid. 

Certtfieate»  and  Affents.  — Every  comp&ny,  before  doing 
business  in  this  State,  shall  receive  from  the  Commissioner  a  license, 
which  shall  expire  on  the  first  day  of  next  April,  and  shall  be  renewed 
on  said  day  and  annually  thereafter. 

Every  agent,  before  doing  business  for  any  company,  must  file  with 
the  Commissioner  a  certificate  from  the  company,  or  its  general  agent, 
authorizing  him  to  act  as  such  agent  and  receive  from  the  Commis- 


»j4i'liiayt»^.VJtiJ#ittti4iMlittiMfeS)l..i«Ut!l-- 


inourporatod  tuA 
of  CH[)ital  atock, 
on  tho  following 
iiiry  of  tho  Htato 
tn  Controllor,  tho 
in<tt\tof  Miiid  HUin 
)ii  a  licutmrt,  duly 
otllco  uuthoriziiig 
uriod  of  Olio  yoar 
if  an  Act  ontitlod 
8  in  thin  Htato," 
7\ct  specittl  pro- 


f  Januarr,  1H91.] 
L'ONOORD. 

i  business  in  this 
•ner  — 

floretary,  showing 

I  business  in  this 
f  applying  for  ad- 
a  written  stipula- 
mt  any  legal  pro- 
Comtnissioner  for 
i/od  personally  on 
rvod  on  the  (3om- 
:t  and  inform  the 
this  country,  and 
irved  upon  him  to 

Bnt  against  it  for 
»n  the  attorney  of 
fiiness  of  the  com- 

my,  before  doing 
lissioner  a  license, 
1  shall  be  renewed 

my,  must  file  with 
■  its  general  agent, 
!rom  the  Commis- 


NEW    IlAMPSniRR. 


91 


aionor  a  Uconw,  which  Hhall  eontinun  in  foro«»  until  the  first  day  of  the 
next  April,  and  nhatt  bo  ronewod  on  sfiid  day  and  iinnuaiiy  thoroaft^-r, 
upon  f '"» liiirig  liy  miicIi  agtuit  of  his  cortilioatu  of  appointment  oa  »for«= 
said.        ^"nta  mumt  bo  nwidcuta  of  tlm  Htato. 

Any  {)oraon  who  nolicits  insurant  on  bolialf  <if  any  life  ln»iuran<'« 
company,  ortrariMmits  'or  any  porson  other  than  himwolf  an  application 
for  a  policy  of  lifo  insurance  to  or  from  such  company,  or  offurs  or 
aMrtuinos  to  act  in  tho  negotiation  of  such  insurance,  shall  be  deemed 
a  life  insurance  agont  within  tho  intent  of  the  laws  of  New  {lamp- 
shire,  and  shall  become  thereby  liable  to  all  the  duties,  requiniliofjis, 
liabilities,  and  penalties  to  which  an  agent  of  such  life  insurance  com- 
pany  is  subjec^t. 

Any  lifo  insurance  agent  who  acta  for  a  person  other  than  himself 
in  negotiating  for  a  contract  of  insurance  by  a  life  insurance  company 
shall,  for  the  purpose  of  receiving  the  premium  therefor,  be  hold  to  be 
the  company's  agent,  whatever  conditions  r)r  Htipulatioria  may  bo  con- 
tained in  tho  policy  or  contract;  and  such  agent,  knowingly  procurmg 
by  fraudulent  representations,  payment,  or  an  obligation  for  tho  pay- 
ment of  a  premium  of  lifo  insurance,  shall  be  punished  by  fine  of  not 
more  than  five  hundred  dollars,  or  imprisonment  for  not  more  than 
ono  year. 

ExmntnaftmiH  and  rmtmlrptt^HfH.  — Tho  Commis- 
sioner may  at  any  time  examine  into  the  condition  of  any  foreign  in. 
Burance  company  doing  business  in  this  State.  If,  in  his  opinion,  such 
company  is  in  an  unsound  or  failing  condition,  he  shull  revoke  all 
licenses  granted  to  such  compuny  anO  its  agents  by  written  notice  to 
the  company  and  publication  thereof  in  ono  newspaper  published  at 
Concord  and  ono  at  Manchester,  having  each  the  largest  circulation  in 
this  State  from  those  places. 

No  mutual  company  can  do  business  in  this  State  if  its  assets  are 
not  equal  to  its  outstanding  liabilities  and  re-insurance  reserve,  calcu- 
lated as  required  by  law. 

Fire  and  Marine, —  Every  stock  company  must  possess  a 
paid-up  capital  of  two  hundred  thousand  dollars,  and  every  mutual 
company  assets  readily  convertible  into  cash,  amounting  to  two  hun- 
dred thousand  dollars. 

Annual  statements  shall  be  filed  on  or  before  tho  first  day  of  Feb- 
ruary  in  each  yoar,  showing  the  affairs  and  condition  of  tho  company 
on  the  preceding  thirty-first  day  of  December. 

The  re-insurance  fund  is  calculated  at  fifty  per  cent,  of  premiums 
on  unexpired  fire  risks,  and  the  whole  premium  on  unexpired  marine 
risks. 

All  losses  on  fire  risks  shall  bo  adjusted  within  fifteen  days  after 
notice  thereof. 

If  any  company  has  determined  to  rebuild  or  repair  any  premises 
destroyed  or  damaged  by  fire,  such  company  shall  commence  within 
twenty  days  after  such  adjustment  and  prosecute  the  work  with  all 
reasonable  diligence  until  completed.  If  any  company  neglect  to  ad- 
just any  such  loss,  or  rebuild  or  repair  the  premises  within  the  time 


NRW    IIAMI'HUIHK 


I 


limited,  th«  pnrton  innurod  m»y  rnbiiilil  «»r  rujmir  llm  wiiue  at  ihn  on 
mn»t\  of  thd  compuny,  not  excnuditig  i\w  amount  inmireil. 

All  |X)licioi  written  In  Now  ll«iin>.xliirn  an-  Hiihjmt  to  it*  vrIuimI- 
;)ollcy  l»w.     Com|mni««  entering  th«  Stalo  aro  proliibit.icl  from  i-oni 
J)itiinK  to  j(overn  or  control  ratus;  thuy  inimt  writ**  a  utiincJard  (xtlicy 
jirt^HcnluKl  by  Inw,  and  warraiilind  arit  inailo  rcpnwontationii  niernly, 
and  their  untrutli  tnuHt  contrilmto  to  the  low  to  void  the  jtollcy. 

fjf'f.,—  Kvury  company  nli»ll  [(omnmii  aiwotH  to  the  amount  of  two 
liuuilrod  llioiiHftnd  dollatx. 

Annual  Htatemontii  Hhall  \w  lllod  on  or  boforn  the  llrNi,  day  of  Feb- 
ruary in  each  year,  showing  the  condition  of  the  civuipauy  on  the  pre- 
ceding thirtyflrHt  day  of  Dncomlxsr. 

Tho  promiunj  roBorvo  shall  be  aHoortainftd  u|mmi  the  basin  of  the 
Actuaries'  Table  of  Mortality,  with  interest  at  four  ixir  eont.  per 
annum. 

f'^^.j^,,-  For  filing  copy  of  charter,  tw«*nty-flv«  dollars. 
For  (lling  statenuint,  (Ifteen  dollars. 
For  licimse  to  company,  five  dollars. 
For  llcons*  to  agents,  two  dollars. 

ToJi'fH, —  Every  company  ahall,  on  or  before  the  first  day  of  Feb- 
ruary ill  each  y«'ar,  make  to  the  t  •ommiKsioncr  a  statomoitl  under  the 
oath  of  the  proHident  and  secretary,  nhowing  the  grosH  amount  of  pre- 
miums received  on  property  located  and  pel  sons  n-sident  in  the  8tate 
for  the  year  ending  on  the  preceding  thirtyflrst  day  of  DecomlMir. 
The  Commissioner  shall,  on  or  before  the  first  day  of  April  in  each 
yflar,  assess  a  ta.x  of  one  per  cent,  upon  such  premiums,  and  shall  give 
notice  of  the  amount  thereof  to  mch  company.  The  amount  of  such 
tax  shall  be  paid  to  the  SUte  Treasurer  within  one  mouth  after  such 
notice. 

PeHHltfeH.—  A.ny  violation  of  any  of  the  laws  relating  to  insur- 
ance shall  Bubjoct  the  oflonder  to  a  penalty  not  exceeding  two  thousand 
dollars  for  each  offense. 

Fire  insurance  agents  acting  without  license,  or  for  unauthorized 
companies,  are  subject  to  a  penalty  of  one  hundred  dollars  for  each 

offense. 

Any  person  who  shall  assume  to  act  as  an  agent  of  any  lire  insur- 
ance company  without  license  therefor  as  provided  by  law,  or  who 
shall  act  in  any  manner  in  the  negotiation  of  unlawful  insurance  with 
a  foreign  life  insurance  company  not  admitted  to  do  businosa  in  this 
State,  or  who,  as  principal  or  agent,  shall  violate  any  provision  of  the 
laws  of  this  State  in  regard  to  the  negotiation  or  effecting  of  contracts 
of  life  insurance,  shall  be  punished  by  a  fine  of  not  more  than  five 
hundred  dollars  for  each  offense. 

ABSkSBMENT    INBDRANOE. 

New  Hampahire  has  no  laws  ragulating  admission  of  assessment' 
companies  as  such.    They  mmt  comply  with  life  insurance  laws. 


''^i.-.r,jmm^'!sm<f'Mmmj*>.iJ'' 


Mama  at  thn  •»• 
rm\. 

it  to  iU  vhIiiihI- 
)itiHl  from  fom 
atanilurd  policy 
ritHtionH  mernly, 
Lho  (toHcy. 

0  nmouiit  of  two 

lirNl  (lay  of  Fob- 
[lauy  on  the  pro- 

thft  huiH  of  thn 
ir   (Mir  cunt,  pur 

Uan. 


ilrHt  (Jay  of  Feb- 
enicitt  under  t.h«i 
H  amount  of  pre- 
(lent  in  tho  fitato 
%y  of  December, 
r)f  April  in  each 
[18,  and  Bhall  give 
)  amount  of  such 
uonth  after  Bucb 


relating  to  insur- 
iiug  two  thousand 

for  unauthorized 
dollars  for  each 

of  any  life  insur- 
by  law,  or  who 
ul  insurance  with 
0  business  in  this 
■  provision  of  the 
cting  of  contracts 
t  more  than  five 


ion  of  assessment' 
irance  laws. 


'<ft"'^"W>iiii 


IMAGE  EVALUATION 
TEST  TARGET  (MT-3) 


k{o 


y 


m 


^ 


V 


^ 


^ 


'#'-- 

^ 


# 


1.0 


I.I 


1.25 


*•  IIIIIM 

'-        114  0 


1.4 


2.5 

1.6 


Photographic 

Sciences 
Corporation 


23  WEST  MAIM  STREET 

WEBSTER,  N       14580 

(716)  872-H503 


:<^y<^ 


4      0Jp 


^ 


CIHM/ICMH 

Microfiche 

Series. 


CIHM/ICMH 
Collection  de 
microfiches. 


Canadian  Institute  for  Historical  Microreproductions  /  Institut  canadien  de  microreproductions  historiques 


NKW    JKItHKY. 


&3 


NEW  JERSEY. 

(l.e>,'WttluremeeUimnui.lly.    N.xi  ei-HHloii,  Jai.uury  14,  IHOO.] 
IIknuv  C.   Kki.hey,  Kcrehiri/  »/  Sluh:,  Tkknton. 
i.Uu:x'*inn  — Every  fompany,  bol'ons  a.lmissioii  tu  tliiH  Stat.-, 

..ast  L.  bu...lr.Hl  and  fifty  tlM.usan.l  dollars  over  ^^^^^'^^^ 
•u.d  liabilities,  and  shall  tilo  with  the  Socrutary  of  State  a  stiUnunl 
's  mu  d  a  sw.>rn  to  bv  its  president  and  secretary  showing  the  eon- 
diTion  and  l.uriness  of  thoco.npany.  a..d  ^ivinj,'  the  ..a.ne  and  residence 
of  each  agent  of  the  company  in  this  State. 

(U't'mvali'H  and  vlf/f'i*^v.- Every  company,  before  trans'act- 
Miu  btinS     hal    p"  ..re  from  the  Secretary  of  State  a  certificate  o 
ImthorHy  authorizing  it  to  transact  business  and  establish  ag..nc.es  lu 

""'Ivery  compuny  .hall  furnish  tlio  Secretary  of  State  a  list  of  the 
-.cents  appointed  .uid  commissioned  in  the  State,  and  every  such  agent 
shail  pEo  Croin  him  a  certificate  of  authority  before  transacting 

^"' AlTcerlificates  of  authority  shall  be  renewed  annually  in  the  month 
of  January. 

State  in  vexaniiie  any  cuinpnnv  doing  business  m  tins  State,  an.l  ,f 
rlhllvpoavas  a  result  of  such  examination  that  the  assets  o  any 
re  nsiiranco  company,  after  charging  it  with  the  amount  requisite  or 
the  ^sumnce  o  its  c,utstanding  risks  an.l  with  its  other  proper  la- 
bihties  "mount  to  less  than  three-fourths  of  '^-Xtfto 're'Lst 
the  assets  of  any  life  insurance  company  are  not  sufficient  to  re-insure 
tsouSanding  risks  and  discharge  its  total  actual  I'f  ll/t'^'^H.  ^bnU 
r^oke  the  certificates  granted  to  such  company  and  its  agents,  and 
publish  notice  of  such  revocation  in  two  newspapers  published  m 
Trenton  and  Newark  respectively,  at  least  six  times. 

Tvt;..^    nnr>-iut'   and  X//V'.— Annual  statements  shall  bo  filed 
in  tKSitS'janX  in  eathVear,  and  shall  show  the  condition  o 
ihe  company  on  the  31st  day  of  December  preceding  and  state  the 
nan.ncSnce,  and  amount  of  premiums  received   by  each   agent 

'"To'rJfrSmpS^^^^^^^  do  not  make  a  statement  of  their  home 
business  t^the  Secretary  of  State,  are  prohibited  from  advertismg  the 

™ife  policies  may  be  valued  by  the  American  Experience  Table  of 
MortaHtvwUh  interest  at  four  and  one-half  percent,  per  annum,  or 
£  Ictuarres-  Tuble  of  Mortality,  with  interest  at  four  per  cent,  per 
annum,  or  any  other  recognized  standard  of  valuation. 

j,V>e.^._For  filing  certified  copy  of  charter,  twenty  dollars. 

Annual  statement,  twenty  dollars. 

Certificate  to  agents,  two  dollars. 

Reciprocal  provision. 


NKW    .IKRSEy. 


TfU'^'S.  —  Evnry  insuranco  comimny  in  its  fiiiniml  stiilomorit  Hliall 
HtaUi  the  gross  aiiiDunt  of  promiuniH  n^coivcHl  in  tho  Stiil((  during  tlio 
preceding  your,  luul  pay  to  tlus  Sccrotary  of  Statu  a  tax  of  two  per 
centum  upon  sucii  premium. 

Every  lire  insurance  company  of  another  State  doing  business  in 
this  State,  is  required  to  return  to  the  treasurer  of  the  liremen's  relief 
association  in  any  city,  town,  borough,  township,  or  lire  district,  on  tlie 
Ist  day  of  January  and  1st  day  of  July  in  each  year,  an  account  of 
all  premiums  receivi'il  during  the  previous  six  months  for  insurancti 
against  loss  or  injury  by  fire  upon  property  in  any  such  city,  town, 
borough,  townsliip,  or  lire  district,  and  to  pay  a  tax  of  two  per  cent, 
thereon  within  one  month  after  tho  n-spectivo  times  for  making  of 
said  returns  to  such  treasurer. 

Agents  are  also  required  to  make  a  like  return  and  to  pay  a  like  tax 
thereon.  Payments  made  by  agents  to  bo  deducted  from  the  amount 
to  bo  paid  by  said  companies.  Upon  failure  to  make  such  rcsturn  and 
payment,  the  certificates  to  company  or  agent  shall  be  i-evokod.  Tlie 
amount  thus  paid  is  deducted  from  the  amount  payable  to  tho  Secretary 
of  State. 

Life  insurance  companies  of  States  which  do  not  impose  a  greater 
assessment  upon  companies  of  this  Sitato,  shall  pay  annually,  in  lieu  of 
the  tax  of  two  per  centum,  the  sum  of  twenty  dollars  for  each  and 
every  agent  appointed  by  and  acting  for  them.  But  agents  transacting 
industrial  business  only  are  exempt  from  said  charge  of  $20.  The  act 
is  not  reciprocal  in  regard  to  the  above  charges;  and  when,  by  the  laws 
of  any  State  or  nation,  greater  taxes  than  the  foregoing,  or  other 
requirements  or  impositions  whatsoever  are  imposed  or  made  upon 
companies  of  this  State,  like  taxes  and  requirements  are  imposed  upon 
companies  of  such  State  or  nation  doing  business  in  New  Jersey. 

Pelt  alt  Irs. —  Evory  violation  of  tho  laws  relating  to  insurance 
sliall  subject  tiio  oilonder  to  a  penalty  of  not  more  than  five  hundred 
dollars  for  c     '   offense. 

Every  adv;.xtisement  of  whatever  nature  which  gives  the  assets  of 
a  company  must  also  state  its  liabilities,  and  it  io  unlawful  to  advertise 
unpaid  capital.  Any  company  or  agent  circulating  advertisements 
contrary  to  this  provision  is  subject  to  a  fine  as  above.  Agents  are 
subject  to  the  same  fine  for  doing  business  without  authority,  or  for 
unauthorized  companies. 

Any  company  failing  to  make  and  file  its  annual  statement  for 
thirty  days  after  the  time  provided  by  law,  shall  be  subject  to  a  poiudty 
of  five  hundred  dollars,  and  a  like  penalty  for  every  month  it  continues 
to  do  business  in  this  State  without  filing  such  statement. 

ASSESSMENT    INSURANCE. 

The  laws  of  New  Jersey  do  not  permit  the  admission  to  transact 
bu^iness  in  that  State  of  cooperative  or  mutual  assessment  companies 
of  other  States,  except  upon  the  same  terms  as  are  offered  to  regularly 
organized  life  insurance  companies.  Mutual  or  assessment  accident  or 
casualty  companies  or  associations  may  be  admitted  to  transact  accident 
insurance  solely,  if  possessed  of  and  maintaining  assets  invested  in  securi- 
ties to  be  approved  by  the  Secretary  of  State  to  the  amount  of  at  least 
fifty  thousand  dollars. 


NKW    MEXICO. 


stalomnrit  sliall 
iit(t  (liiriti^  Iho 
iix  of  two  ^)()r 

IK  business  in 

limincii's  roliof 
(iiHtrict,  on  llie 

an  account  of 
I  for  insuranco 
idi  city,  town, 

two  per  cent, 
for  making  of 

)  pay  a  liko  tax 
)m  the  amount 
icli  r((turn  and 
rt'vokod.  Tlio 
J  the  Secretary 

iposo  a  greater 
lally,  in  lieu  of 
for  each  and 
[itH  transacting 
$20.  Tiio  act 
en,  by  the  laws 
aing,  or  otiier 
or  made  upon 
I  imposed  upon 
w  Jersey. 

T  to  insurance 
1  five  hundred 

!s  the  assets  of 
ful  to  advertise 
idvertisoments 
.  Agents  are 
Lthority,  or  for 

statement  for 
3ct  to  a  poiudty 
itb  it  continues 
it. 


ion  to  transact 
lent  companies 
ed  to  regularly 
ent  accident  or 
msact  accident 
ested  in  securi- 
)unt  of  at  least 


•  NEW  MEXICO. 

[I,eBli>lnliiri'tiioi'txblniiiiliilly.    Next  MSfiion,  l)eci  mbcr,  IWK).] 

Thinidai)  Ai.auii),    Ttrrilnrial  Auiltlor,  Santa   Ke. 

ttfnn'Msion.—  Wvory  inHunuinj  company,  cxaU'ting  plato-gluss 
and'accidcnt'compani.-s.  must  Iahv.-  a  [.aid-up  capital  of  tlinx!  luiudn^d 
thousand  dnlhirs.     A.'cid.M.t  coinpaiiius,  eitiier  stock  or  mutual,  am 
all  compani(;H  coi.lining  liuiir  business  exclusively  to  tlu,  insnranc!  ol 
plato.glass,  must  each  have  one  hun.lriid  thousand  dollars  paid-up  cai). 
ital  or  available  cash  a.ssets.     In   each    county  m  which  u  company 
transacts  business  an  attorney  to  accept  service  must  he  ai.poiiitea; 
such  attorney  must  reside  at  the  county  seat  and  may  be  the  com- 
pany's agont.     bV)reiga  companies  must  show  to  the  satisfaction  of  tlio 
auditor  that  they  have  deposited  in  some  State  or  territory  at  hsast 
one  hundred  thousand  dollars  for  I  he  special  security  of  the  assured. 
No  aKent  is  allowed  to  transar'  business  for  any  company  wlio.se  cap- 
ital  is  impaired  to  the  extent  ■..  twenty  per  cent,  by  habihtios,  so  long 
as  such  impairment  continues.     A  synopsis  of  annual  staKunent,  show- 
ing assets  and  liabilities,  must  be  published,  within  sixty  days  after 
(ilinir  same  in  one  newspaper   in  every  coun'y  whcn-ein  the  comi)any 
has  an  agency;  if  there  is  no  iwunty  newspaper,  tlien  in  some  news- 
paper  of  general  circulation  in  said  county. 

Annual  Stat^-incnts.—^t&UmcntHmnst  be  (lied  with  audi, 
tor  annually  of  the  business  and  condition  of  companies  on  the  preced- 
ing thirty-first  day  of  December. 

Af/ents  and  lAeense  Fees.-ypon  January  Ist  of  each 
year  every  agent  in  the  territory  must  make  a  sworn  statement  of  the 
amount  of  premiums  received  in  the  territory  for  each  company  repre- 
sented by  him;  and  this  statement  he  must  forward  to  the  Auditor  by 
February  1st,  together  with  bis  annual  license  fee  1  he  amount  ot 
this  fee  is  determined  by  his  premium  receipts,  as  follows:  When  ess 
than  $10,000  during  the  year,  $25;  when  over  $10,000  and  ess  than 
$20  000  $50;  and  for  every  $10,000  thereafter  an  additional  il,50  toe 
is  required  Every  agent  or  solicitor  must  be  a  resident  of  the  terri- 
tory Every  company  not  organized  under  the  laws  of  the  territory 
must  have  at  least  one  authorized  agent  at  the  county  seat  of  every 
county  in  whicli  business  is  solicited. 

ASSESSMENT    INSURANCE. 

There  are  no  laws  in  the  territory  of  New   Mexico  regulating  the 
business  of  assessment  insurance. 


— .  ■^-^Sia!fJ.W»WtgN8'>k"ri' 


90 


NKW    YoItK. 


NEW  YORK.  • 

[Le({iitlntiiru  n.eclH  aiuuiBll) .    Next  mmtlon,  Jan.  1, 1890.] 
It.  A.  Maxwell,  SupeiinteniUnl  of  Insurnnce  Uejtarlmcnt,  Albany. 

Athnissfon,—  Kvory  comiKuiy  must  posHusH  th»!  ainonnt  of  cap- 
itiil  unci  assets  licrciiiiit'ter  iiKfiitioiiiHl,  iM^l'um  liciiif^  ailiiiitlod  to  IniiiH. 
act  IdisiiiosH  in  this  .State,  aiuJ  must  filu  with  tlio  Suj)crii»tou(lent  — 

A  cortilicd  copy  of  its  cliartor  or  dcod  of  scttlcnK^nt. 

A  statoiuuni  umlor  tlus  oath  of  tlio  i)rusi(i(>nt,  or  vice  prosidont,  or 
other  chief  ollicer  and  secretary  of  the  company,  stating  tlio  luvine, 
location,  cajjital,  assets,  and  liabilities  of  the  company,  in  detail. 

A  copy  of  the  last  annual  rei)ort,  if  any,  made  under  any  law  of 
the  State  by  which  said  company  is  incurjuirated, 

Kvery  company  must  also  appoint  tho  Superintendent  of  Insur- 
ance its  attorney  to  accept  aorvico  of  proces  in  any  suit  or  proceeding 
at  law. 

Cet'tiflratvH  and  Af/CHfa.  —  Every  agent  of  any  company 
admitted  to  transact  business  in  this  State  shidl  procure  from  the  Su- 
perintendent a  certillcato  of  authority,  stating  tliat  such  company  has 
complied  with  all  the  requirements  of  law,  and  the  name  of  the  attor- 
ney api)ointed  to  act  for  tho  company.  A  ci'rtified  copy  of  such  cor- 
tilicate  of  authority  shall  be  filed  in  the  ullice  of  tho  clerk  of  tho  county 
where  the  agent's  ollice  is  located  and  the  agency  established. 

Agents  of  every  lire  company  must  also  iile  with  the*  county  clerk 
a  copy  of  the  statement  of  the  company,  and  publish  the  certificate  of 
authority  four  successive  times  in  tho  paper  in  which  tho  State's 
notices  are  required  to  be  inserted,  and  within  thirty  days  thtsreafter 
file  with  tho  Superintendent  theailidavit  of  the  publisher  of  such  pa|)or, 
his  foreman  or  clerk,  showing  such  pulilication.  Every  agent  doing  a 
fire  business  in  any  incorporated  city  or  village  shall  execute  a  bond, 
with  such  sureties  as  tiie  treasurer  of  the  fire  department  shall  apjjrove. 
conditioned  that  he  v/ill  make  true  and  correct  returns  as  required  by 
law  of  the  atnount  of  premiums  received  by  him  and  pay  the  taxes 
thereon  imposed.  In  the  city  or  county  of  New  York  such  bonds 
must  be  for  the  sum  of  one  thousand  dollars.  In  every  other  incor- 
porated city  and  village,  such  l)ond  must  be  in  a  sum  not  exceeding 
five  hundred  dollars,  AVhcre  company  has  no  agent  its  officers  or 
manager  must  file  bond  with  Superintendent,  in  the  sum  of  two  thou- 
sand live  hundred  dollars  before  it  may  lawfully  write  policies  upon 
property  in  such  cities  or  villages.  Agents  of  each  marine  company 
shall  fila  in  the  office  of  tho  clerk  of  the  county  in  which  they  reside  a 
copy  of  the  statement  of  the  company,  and  publish  the  same  in  a  news- 
paper (if  one  be  publishetl  in  the  county)  at  least  six  successive  weeks 
after  the  same  is  so  filed.  Such  agents  shall  execute  and  deliver  to 
the  Comptroller  a  bond  in  the  sum  of  one  thousand  dollars,  with  such 
sureties  as  the  Comptroller  shall  approve,  conditioned  that  such  agents 
shall  make  returns  and  pay  taxes  as  required  by  law. 

Certifica  es  of  authority  shall  be  renewed  annually,  and  shall  be 


NKW    YORK. 


•J" 


190.] 

'iicnt,  Albany. 

(i  ainduiit  of  cap- 
iiiitlod  to  truiis- 
riiituutlont  — 
it. 

ico  prcsiilfmt,  or 
iiting  tlio  immo, 
ill  ili'tail. 
tiilor  any  law  of 

ndont  of  Irisur- 
lit  or  proceeding 

)f  any  company 
ro  from  tho  Su- 
ch company  lias 
mo  of  tho  attor- 
)[)y  of  such  cor. 
?rk  of  tho  county 
hiished. 

tho  county  clork 
he  certidcate  of 
hich  tho  State's 
r  flays  thtircaftor 
cr  of  audi  paper, 
ry  agent  doing  a 
execute  a  bond, 
^nt  shall  approve. 
3  as  required  by 
d  pay  the  taxes 
ork  such  bonds 
cry  other  incor- 
m  not  exceeding 
it  its  officers  or 
im  of  two  thou- 
to  policies  upon 
narine  company 
eh  tliey  reside  a 

same  in  a  news- 
uccessive  weeks 

and  deliver  to 
hilars,  with  such 
that  such  agents 

ly,  and  shall  be 


fihMl  an.l  published  in  tho  sam..  manner  as  the  original  .•ortilicale  of 

"'"kII!,^  agent,  in  all  mlv..rtiHem..ntH  of  any  company  he  repn^ents, 
shall  pul.lish  tho  location  of  the  .■ompany,  giving  city,  town,  or  village, 

""'Metillowing  an.  the  provisions  for  li.rensing  agents  f.  place  ex- 
cf's^  lines  in  unanliiorized  companies:  ,    ,,  ,  .1    .. 

Tlie  Superintendent  of  the  Insurat.ce   Depaifnent  shai      .e  au.l.o 
i/,ed  to  issue  to  citizens  of  this   State,   in  c.msi.leraUon  ol  tl"'  >    " 
^ynentof  two  hundred  dollars,  a  li..mHe   which   shall   he  '*"'' «*' 
lev^ocation  at  any  titne,  permitting  the  person  or  ^^"l/'^;:^l^^^l 
liconse  to  act  as  agent  or  agents  and  prnrutv  pulines  ol    li.e    •'»'>; 
or  themselves  or  others,  on  property  m  this  State  in  -■''  -■;-;,'  ^^ 
have  not  complied  with  th(,  laws  of  the  State;  but   belo.e  ay  on 

or  linn  shall  ict  as  agent  or  agents  uiu  er  or  by  virtue  o  a^  I -nse 
an<l  procure  polices  in  said  companies,  he  or  hey  sha  I  execute  an  all 
da  vi  ncluplicate.  one  of  which  shall  he  liled  with  the  in.uni  e  e- 
partment.  and  the  other  in  the  clerk's  otlice  «'' ^''''-"'l  >;  ;\'  '',,t 
.roLortv  proposed  to  be  insured  is  located,  seating  forth  that  the  per- 
ojlm.^o  corporation  desiring  insurance  is  unable  to  1-ocuro  lo 
amount  ^f  insunince  required  to  protect  sau  proijeily  "^m.  r  n^ 
,r„lle.l    by  the  said  person,  linn,  or  corporation,     rom  ^'^^ 

..ompanies  duly  authorized  to  trans:  ct  business  ,n  Uns  S tat      1  '-  ; 

however,  that  in  counties  having  less  tl.an  one  hundr.:d  tl.ou.  "d  ". 
LbitantL  the  license  fee  lor  su..h   agent  shall  ^^^^  ^f^^^^f'^'^]^^ 
.lullars      The  agent  or  ag.'iits  wh<^  by  virtue  ol  said  licen..'  shall  place, 
y  sudi  ulnvLo  or  pmcure  policies  in  ar^  such  unrepresented  coni- 
iies  shall  k..ep  a  separate  account  thereof,  open  at  all    imes  to  tho 
,c  ion  of   the  Suplrintendent,   showing  (1)  the  exac    a-'unt  -l 
such  insurance   placed   for  any  person,  linn   or  ^'"n--;vl.on  ;      )      0 
gross  premiums  charged  thereon:  (■'.)  m  what  companies;  (1)  th.  date 
of  the  noliev;   and  (."))  the  term  thereof.  .        1      1 

'Hie  agc-ts  pro^ic/ed  for  by  this  act  shall  not  exceed  Uvo  hundivd 
i„  number,  and'each  person  or   linn  receiving  -''^^ VteTui    iver  to 
fore   transacting  business  as  luu;e,n  authorized   -^--    «  ^    '        '^^J  t° 
the  superintendent,  a  bond  to  the  people  ol    this  ^^    %  "      '^^^ 
sum  of  two  thousand  dollars,  witii  such  sureties  as  th    ''^  J  y ^^^^  ';^^" 
shall  approve,  with  a  condition  that  the  said  agent  will  f^'>'  ''' '  >/'" 
ulv  with  all  the  requirements  of  this  act,  and  will   pay   to  the  saul 
S  M) S  e,  dent,  in  Januarv  and  July  of  each  year,  the  sum  of  three 
dS'upon  tin,  hundred  dollars,  and  at  that  rate  ''P;'"  [  -  .'^7;;;:;  ^.f, 
gross  premiums  charged  to  policy-hol.lers  ui-on  all   pohcie,-,     roMUul 
by  such  agent  during  the  preceding  six  months.  i;"rsn:.nt  to  th        U^ 
It  is  further  provided  that  all  fire  insuranc.>  policies  issii    I    0  i-e^dt  ts 
of  this  State  on  property  located  herein,  by  .■onii.an.es  that   have    it 
complied  with  thi  relinirJnumts  of  the  general  ^n.u^.n..oU^.^o       k« 
State,  shall  be  null  and  void,  and  of   no  force  or  « J'.'^^\; '^'    ^     '  j^  ^■ 
cept  such  as  have  been  procured  in  the  manner  m  this  act  provided. 

ExaiHiHations  atui  I,„pnivttti'ntx.-1'\^  Sup'.rintend- 
ent,  whfmeteJhe  deenisit  expediefit.  or  whenever  he  '-  oc-casion  to 
suspect  the  correctness  of  any  statement,  shall  ci.use  an  examination 
13 


If  ! 

1 
1 


\  ' 


■    tiVi.'Jfcl't^BS^MBife'.-M'S 


■^miiiyiw^ 


M 


NKVV    VoitK. 


to  bo  iiiftilu  into  tim  ulTaiis  of  any  company  tloinj^  ImsiiicM.s  in  this 
Htatf.  WiioticvtT  ln'  Hhail  iji-cni  it  for  llic  inli-rcHt.  u(  tim  puljlif,  lui 
Hliall  (iiiltliHli  thn  n-Mult  of  siii'li  cxiiniinution.  VVIit>ncvur  it  nliail  up' 
p(!ar  tiiiin  siu'li  I'xanuhiiliun  tliiit  lln' alf.iiis  nf  any  cuinpuMy  ui'it  in  an 
iinsounci  ODiidition,  tiic  Siiprrinl  ■ndcnt  mIiuII  revoke  tlie  ccitilit-'ato 
^nintcil  in  iji-liaif  of  .sucli  company,  and  caimo  u  uotiiication  tliuruof  to 
bo  pul)liHli(;d  in  tliu  Statu  paper  for  four  wcelis. 

A  lire  insiirani't!  company  caniot  do  iniisine.xs  in  (liiH.Statt)  wlion  its 
capital  Miociv  is  im|iairod  lo  ilin  oxtcnl  of  twenty  por  cent. 

A  mutual  life  insurance  company  cannot  ilo  Ijiisiness  in  this  Slato 
wiitm  its  uHHoth  aro  not  (!(|Uttl  to  itti  liabilitiim,  including  the  proniium 
roservo  computid  a»  rccpiired  by  l;.i\v. 

A  stuck  life  insurance  company  cannot  do  buHinesa  when  its  stock 
ia  impaired  to  tho  oxtont  of  lifly  per  cent. 

i'ViV  (lint  Moi'hU'. —  A  (lie  or  niarino  insurance  c<mipany 
must  posses.')  a  i)aid-iipca[)ital  of  two  hundred  thousand  dollars. 

Annual  statements  must  be  (i!eil  in  tho  month  of  January  in  each 
your,  ami  show  the  condition  and  alTairs  of  the  company  on  tho  pre- 
ceding 3 1  St  day  of  December. 

Tho  re.insuiaiice  fund  is  cominited  at  lifty  per  cent,  of  all  [iromiums 
on  unexpired  lin;  risks  having  one  yt;ar  or  less  to  run.  /Vo  idia  of  all 
premiums  on  unoxpired  (iro  risks  having  more  than  one  year  to  run. 
Tlie  (,'ntirc  premium  received  on  unexpired  marine  risks. 

Every  coiii[iaiiy  must  lilo  in  the  ollicu  of  the  Insuraiico  Superin- 
tendent an  agretMiienl,  under  \ts  corporate  .«eal,  tliat  it  will  not  tninsuct 
any  business  which  any  lire  nsuiaiice  company  is  prohibited  from 
transacting. 

No  investment  will  be  allowed  as  an  asset  that  is  not  held  as  pro- 
scribed by  the  law  of  this  Stati-  e.Kcept  unpaid  prc'iiiiums  on  policies 
written  within  three  months,  i'lvery  policy  of  insurance  must  b(>  can- 
celed at  tho  reipiest  of  tho  insured  and  the  premium  paid  relurnod 
less  the  customary  short-rate  premium  for  the  expired  time  of  tho  full 
term  for  which  said  policy  has  boon  issued.  No  company  can  take 
any  one  risk  in  this  State  in  (excess  of  ten  per  cent,  of  its  paid  up  capi- 
tal stock  and  net  surplu.s.  No  company  shall  reinsure  any  risk  written 
or  located  in  this  State  with  any  company  not  admitted  to  transact 
business  in  this  State,  and  schedules  of  re-insurances  must  be  (iled  with 
annual  statement. 

KiVory  advertisement  purporting  to  make  known  the  financial 
standing  of  any  company  shall  exhibit  the  caj)ital  actually  paid  in  in 
cash,  and  the  amount  of  net  surplus  over  all  liabilities,  including  in  the 
liabilities  tho  re-insurance  reserve  on  outstanding  risks.  Such  assets 
shall  only  b(!  included  in  tho  advertisement  as  are  held  for  the  pro- 
tection of  holders  of  polici(;s  of  fire  insurance.  Such  advertisement 
shall  in  its  statement  of  the  linancial  condition  of  the  company  corre- 
spond with  the  verified  statement  last  filed  with  the  Insurance  Depart- 
ment. No  marine  company  is  permitted  to  pay  to  its  agents  moi-ethan 
fifteen  per  centum  of  premiums  received  for  insuring  property  in 
transitu  on  the  canals  of  this  State.  No  part  of  the  remainder  shall 
be  paid  to  any  shipper,  middleman,  or  other  person,  directly  or  indi- 
rectly.     Every  company  shall  under  oath  make   such   statement  in 


tiisiiicHs  ill  tins 
llu)  piiljlic,  liu 

ruv  it  hIiiiII  up- 

i|iiiiiy  ant  in  an 
llir   n-il-ilit'iito 

iition  tliurc'uf  to 

H.Stiito  wlion  ilH 

tilt. 

'SH  ill  this  Statu 

^  tilt*  proiiiiuin 

wlifii  its  Htock 


iriuiro  coinpatiy 
I  tloliai's. 
luiiiitiry  ill  cat'li 
my  oil  tlin  pn-. 

of  all  pi'tMiiiuiiiH 

/'til  idUi  ol'  all 

w  yoar  to  run. 

iiianco  Supt'iin- 
will  not  ti'iinsact 
iioliibili!(l    from 

not  hold  as  pre- 
iiuns  on  policies 
ICO  must  1)0  fan- 
1  paid  rc'lurnod 
timo  of  the  full 
npany  can  tak(( 
its  paid  up  rai)!- 
any  risk  written 
tted  to  transact 
U8t  be  (ileil  with 

in  the  financial 
ually  paid  in  in 

including  in  the 
:8.  Such  assets 
Lfid  for  the  pro- 
:li  advertisement 

company  corre- 
isurance  Depart- 
igents  moi'e  than 
ing    property  in 

remainder  shall 
directly  or  indi- 
ch   statement  iu 


NKW    YORK. 


!•;» 


r..f..rence  to  sucl.  payment  nn  the   Insun.nco  ^''l»'''"''':'\';'''.;J;;*'' ^^^^ 
,,uin..      ViolMti..ns..f  this  nviuiiomenl  mny  he  punished  l.y  levuuitlon 

aiifhorily  to  do  husiiH'.-'S.  .,|,,|,tv. 

On  ami  after  thr  liiyt  dav  of  May,  oiKhl.en  humlicl  a i.d  oiuhty^ 
seveii  m.  nre  insurance  co.npany,  .•orponition.  or  "-'"";■"'  '^;'^ 
,ll^..e  s  or  agents,  shiill  mnke,  isHUo,  use  or  .lohver  for  use  ay  io  n^ 
surance  ix-tv,  or  a  ivm.wal  ..f  any  lire  pnhcy,  on  proper  y  >  I'lH 
sZotl!er  than  such  as  shall  conform  inall  l-;'"-' ''!;;-;';  •'^: 
si/.eof  typ.N  conte.Nt,  pn.viHioiis.  ^^^'\''T}'^\'''\r^^^^^  Z 
,.,inted  form  of  contractor  policy  fded  ''V'''';''"'"'' ';', '  "^^  ,  o^. 
l.f  State  known  as  ll,o  standar-l  form  of  H"'y.  »  '  ''  ''  '  ,;'. 
dilTeivnt  provision,  auMcmcnt,  condition,  or  '•'^^'l^'  ''',''  y'', 
1,0  made  a  part  of  said  contract  or  i^ohcy,  or  he  ind.^ised  theu.m  ..r 

delivered  therewith,  except  as  follows,  to  wit;  , 

/,•/„/_  The  name  of  the  company,  its  h.cat.un  and  phi '.;  ol   1  usi- 

,uJ    he  datV  of  lis  corporation  or  organi/.ation,  whether  it  is  a  stock 

niu    al     omp.tnv,  the'  names  of  its  olliccrs.  tho  number  and  -lato  o 

the  policy,  and  If  it  b..  issued  through  a  manager  or  agent   the  w       h 

!.  uJs   lolicy  shall  not  be  vali.l  until  countersigned  by  the  duly  aut      r- 

ized  manager  or  agent  of  the  (amipany  at  -         ^ 

lio  iirinti'd  on  policies  issued  on  property  in  tins  Mare. 

'  '!;/_  Printed  or  written' f.u-,ns  of  description  ""'' p'-'  ^  ';;" 
or  sclu-dules  of  the  prop.-rty  .-overed  by  any  particular  p-li cy,  ai  d  any 
H,  r  at  er  neceJary  to  cl..arlv  express  all  the  ia-^ts  and  coi.di Uons 
; '  ■,  sur^^l".:;  any  piticular  ri^k  (which  laCs  -  ;-;;  >;-- 1;'  I 
„oca-e  be  inconsistent  with,  or  a  waiver  of  any  of  he  p.oviMoiis  or 
:  dons  of  the  standard  poli.-y  herein  provided  or  •  J.^  "^w  U 
upon  or  attached  or  appended  to  any  policy  issued  on  piopi'itv  in  this 

^*%„V/-A  company,  corporation,  or  associati.m  organized  or 
incor  rated  unler  and  in  p.iisuance  of  the  laws  of  this  State  or  .  Ise- 
wh  r  f  oiti  led  to  ,lo  business  in  this  Stat.-,  may,  with  the  approva 
of  t lie  up  nntendent  of  the  insurance  department,  if  the  same  is  no 
areaSv  •  "led  in  the  stan.htrd  form  to  be  liled  in  ,he  oflice  o  lie 
Seen  urv  of  State,  as  provi<le<l  for  iu  the  first  section  ot  this  ac  print 
im  its  Ji  •  es  •  "V  provision  which  it  is  by  law  required  to  insert  therein 
i  s  ich  n  wis  n  iLiot  in  conflict  with  the  laws  of  this  State,  or  o  tjie 
United 'states,  or  of  the  provisions  of  the  standard  iorm  provided  for 
lurch  Imtsa  d  provision  or  provisions  shall  be  printed  apart  Irom  tho 
S.r'pl^iSns'agreements^or  conditions  "V'^^Cw'^i;'  '1!:^ ^LJedt 
arate  title,  as  follows:     "  Provisions  rccimred  by  law  to  bo  stateil  in 

''""Anv'insurance  company,  its  ofTicers  or  agents,  or  eitlier  of  them, 
makiiK  suing,  delivti-ing  or  olfering  to  deliver  any  pohcy  of  fire 
hisu  "nee  on  pr  .pertv  in  This  State  except  as  hereinbefore  provi^led, 
ralThe  gimtyof'^a  misdemeanor,  and  upon  complaint  made  by  the 
tp  HntSi^t  of  the  Insurance  I'^-tinent  or  by  any  cUi.en  of  th  s 
State,  shall  upon  conviction  thereof  be  punished  V  "^ ''"'^ J\f,f  ^ 
than  tweutv-five  nor  more  than  one  hundred  dollars  tor  tlio  nrst 
ICse  ^nd  o  not  less  than  one  hundred  nor  more  than  two  hundred 
and  fiftly  dollars  for  each  subsequent  offense;  but  any  policy  so  made, 


%\\ 


i 


11 


tnn 


NKW    YnllK. 


iMHiuul,  lui.l  .l.-liv.Ti'.l  hIiuII  notwitlmtiiiKliiiK  »'«'  biinlinK  upon  t)w  com 
puny  ifsiiin^  ili"  Hiiinf. 

tJ/'r  ami  Arvhh'Ut>  —  Kvcry  fi»iii|uiMy  tnuiHiictinK  biiMincMH  in 
thin  Stiitt'  iiiiisf  iMixKc.-H  III  It'UHt  unit  IuiihIii-iI  lhniiHiin<l  (lolliitn  invfxIiMl 
III  t!ic  :*i,n.'k.-<  i>r  liuiiilsnf  ill-'  I'mK'"!  Stiiifs,  ilif  Stiiio  of  New  York,  or 
of  till"  Smtn  when'  till-  roiiipiiiiy  is  loculnl,  or  in  Ioiiiih  Hi'ciin'<l  hy 
nioilK''K"  "•>  ini|"'"^'''''»  iiiiinciiiiilifri'ii  iciil  fMtati)  witliiii  tlir  Slati 
wliiMT  fiirli  roiiipiiny  if*  loi'uti'<l,  worth  M'vciity-livM  pi-r  cfiit.  niorr  tliim 
the  iinioiinl  ionni'il  "ilicriMm.  StU'li  si't'iiriticH  sliiill  In-  ilc|Mi!*itiMl  with 
lim  Amlitor,  ( 'oiiipt  roller  or  cliii'l'  liiiaiii-iiil  oIlli'iT  of  tlic  Stiitn  wlwrr 
siiiil  coiiipiiny  is  ini-orporatiMl,  for  tin-  lunrlit  uf  nil  llm  policylioldrrM 
of  .HiMih  coiirpuny,  iukI  the  Siipi'riiil.«ii<U'iil  >li,ill  !»•  furniKlii'd  with  ii 
(•••rtificutr  tlinrt'o't  nnih-r  tin:  liuinl  iiiul  ollirini  seal  of  hiuIi  ollirt-r.  stiil- 
\\\H  rhr  itrins  of  8in-li  HiM-uritioH,  lUitl  thiit  siirli  ol1ic»»r  Ih  Matisliod  tluit 
tlii-y  ari'  worth  oiio  hnndnil  thoiisiiiul  ilollars. 

'Aiiniial  Ktati'iiifiits  niiist  I'o  lilcil  <>ii  tlir  liiMt  day  of  January  in  ouch 
your,  or  within  sixty  dayw  thcrcaflur,  .nliowiiiK  the  condition  und  iilTairH 
Iif  fho  coinpiiny  on  llui  preceding  3ht  day  of  [)ecunilier. 

Tiie  Superintendent  shall,  at  h-ast  once  in  (ivc  yciarn,  and  annually 
in  his  discretion,  iiitike  valuations  of  all  oulstandintf  policies,  in  every 
life  insurance  conipaiiy  doinj;  l>usiiie>-s  ii'  this  State.  For  the  purpuse 
of  Hiich  valuation  the' rate  ot  interest  assumed  shall  he  four  per  cent, 
per  iiniiiiiu,  and  tlie  rate  of  inortiility  shall  he  that  estahlished  hy  the 
.Actuaries"  or  Coinliined  K.xperienci)  Tal)l(».  The  Superintendent  niiiy 
in  his  discretion  accept  the  vuluation  of  tli(>  Department  of  fnsurance 
of  any  otlior  State,  in  place  of  niiikini;  sucli  valuation,  provided  the 
insurance  ollicer  of  such  State  does  not  refuse  to  accept  as  sullicieiit 
and  valid  for  all  purposes  the  certiiicutt)  of  valuation  of  the  !n.surunco 
Department  of  this  State. 

I.>fe  insurance  companies  sliall  not  mako  any  discrimination  in 
favor  of  indiviiluals  of  tli(!  sumo  chi-ss  and  of  tlict  same  expectation  of 
life,  oitlior  in  tint  amount  of  premium  cliar^,'eil  or  in  return  of  premiui'i, 
divideniis  or  other  advantages,  and  no  agc^nt  of  any  hucIi  insurance 
c'tmpany  shall  make  any  contract  for  insurance  or  agreenjont  as  to 
such  contract  of  insurance  other  than  that  which  is  plainly  exprosBcd 
in  the  policy  issued,  nor  sliall  any  sudi  company  or  agent  pay  or  allow, 
or  otTer  to  pay  or  allow,  as  inducement  to  any  perscm  to  insure,  any 
nihates  of  promiuni,  or  any  special  favor  or  advantage  whatever,  in  the 
dividends  to  accrue  thereon,  or  any  inducement  whatever,  not  specified 
in  the  policy. 

The  re  iiLSiiranco  rctserve  tipon  accident  policies  is  the  unoarnod 
premium  on  polici(!S  in  force  computed  on  each  risk  from  the  date  of 
issuing  the  policy. 

Policies  of  life  insurance  issued  in  this  State  upon  lives  of  husbands 
for  benefit  of  wives,  may  be  assigned  by  the  wife  with  the  written  con- 
sent of  her  husband,  and  in  case  of  licr  death  by  her  legal  representa- 
tives with  like  consent. 

No  life  company  doing  business  in  this  State  shall  have  power  to 
declare  forfeited  or  lapsed  any  policy  issued  in  this  State  by  reason  of 
non-payment  of  any  annual  premium  or  interest,  unless  such  company 
shall,  when  any  premium  or  interest  ou  such  policy  is  duo  and  unpaid, 


C  upon  the  com 

■liiiK  hiiHiiM'HH  ill 
(liilliirs  iiivi'xttM 
il  New  York,  or 
piiiis  HccMi''''!  by 
itliiii  till'  Sliiti 
cent,  iimrt'  tliiiii 
il<>|H)Hiti*i|  wit 
till'  Stiitn  wlicrr 

H)   pdlicyllDl'll'I'K 
MllliKlli'll   vvitll    II 

ilfli  dII'iimt,  still- 

JH  MUtiHlliKl    tilUt 


JiiiiiiHry  in  oucli 
lition  uml  iilTiiirH 
r. 

rH,  and  aniiiiully 
loIicicH,  ill  every 
l''nr  llie  |illl'f)OHe 
!(•  lour  per  cent, 
tiililislied  hy  the 
erinteiuloiit  iiiiiy 
^iit  (if  Iiisurnnce 
1)11,  [ir()vi(le<l  the 
fept  IIS  HiilVicieiit 
ii  tlio  Insuruiico 

iiscrinniiation  in 
le  expectation  of 
urn  of  preiiiiui'i, 
such  insurance 
ii>,'reeuicnt  as  to 
iiliiinly  expressed 
ont  pay  or  allow, 
n  to  insure,  any 
I  whatever,  in  tho 
vor,  not  siiecilied 

is  tho  unearned 
from  tlio  date  of 

lives  of  husbands 

I  tho  written  con- 
legal  ropresenta- 

II  have  power  to 
tale  by  reason  of 
>ss  such  company 
i  duo  and  unpaid, 


NKW    YnllK. 


101 


Ho.id  I..  III.,  in.mvd  or  hi.  «s«iKne...  ul  hi-  IhhI  known  poHt-olllcuMl  Ir  .hh, 
o  11.     ii      a  written  or  printe.l  notice  stating  tho  amount  .,f  pre- 

;:;;•;;;: :  ^^ :  mom;;;  sull  !;,• shan ..1. "if ';»;;;-•; ; 

,-';i;-;;:-di:';:ii:S::;!:^:':^^ 
S:;-r:a:;.t.;:;;.th^ 

W,,te.HhlHH.-^^^<^\^  companies  shall  make  the  same  dcp«'«'l  "'^ 
lifo  o' '';;.!.•' und\.t.tai^    ce.tilica.c  of  authority  ladore  doing  busi 

nesH. 

:z:::^::.7^i::^^^^^'^^'^^  -  ••"-  whid.  companies.^ 

Jliir  Stat"  >ar!Mu.rn.itt.ii  to  hold,  not  Ics.  than  llvuhun.lred  thousand 
''""'iMudl  also  lilewith  the  Inm.ramc  Superintendent  an  ftgroe.nont 

d.;'iii:;;;:::r^;rx;;:rct;;t:-;::;r;i;^'^x 

Hum   "'t^  Y'^  y;"'      ,     ^  f  >,.„^^.  v,„.k,  or  in  l.on.ls  secured  by 

T'"V  3in  s^^^ 

.l,»ll  3n  a  .lopoml  will,  U,o  S.,,„..i.ao,Kl,-n.  in  sccunUos  ot  ll.o  value 


102 


NKW    VOUK. 


thi>  iiMiiitli  of  Jiinuury  ii,  ciit'li  y«>ttr,  Mlmwiiig  tliti  iiiVKMriiiciitN  cnnMtititt 
iufi  ihi>  ('n|iiii»l  iif  rlii>  rftinpiuiy  iti  tin*  ITiiitixl  Stnti'o,  itml  tlio  ('iiii<litii>ri 
iiihI  lMi«iiiixN  itf  till' <'i)rri|iiitiv  in  tint  I'liitcii  Sl>ili')(.  lai  tlic  |iri>i'i'i|iti^ 
lllxl  iliiy  i>(  hi'fctnliiT.  Kvcry  xiicli  loinpftny  <*lmll  ihily  mlviTtiMr, 
ImiIiIjm)),  nr  I'liiiiii  ill  nuy  Mtiiroiiifiit  only  miicIi  hmmmIm  or  l)iiNin«"*M  hm  il 
hiiH  tiiid  IwiM  iloiio  within  tin*  i'liittMi  Htiit,i>«.  Tim  0((rtilii-iit<<  of  nny 
(■oin|)»iiy  violiitinK  tliin  proviMion  will  ho  rMVokoii. 

FvvH, —  Kur  flvt-ry  ropy  t)f  any  piip«r  HUxl  in  tli«  ilrpurtiuunt,  tim 
Minn  often  cfiitK  pi>r  folio,  niul  for  iillixin^  tlu'  Hi>itl  of  hiu'I  cicpartinont 
to  Hiich  copy  anil  >'i>rtifyin^  tlu'  Hanu>,  one  tlollar. 

h'or  lllinK  i-lmrtor,  $;ni. 

For  ftlint;  nntiiiat  Mtatcnii'iit,  $'20, 

For  oni'li  cortiliruti' of  authority  and  «'ortillrtl  copy  of  muno  inHiifil 
to  an  M;x*'>it.  Mw\\  Minns  not  cxcuftlin^  livo  ilollurH  an  nIihII  ho  lixnil 
from  liiiH'  to  titnc  hy  tho  Hupi.'rintoinli'nt, 

For  I'xuininationM  of  iimuranai  conipuniui*,  the  actual  uxpvhNUH 
incurrcij. 

KtH'iprocal  proviHion. 

T(l,f('M,  —  TIm>  agcntB  of  all  rimriiu'  coinpouit'M  mIirII  poy  to  tho 
hiuiranco  Ih'partint'nt  on  tin'  (irst  ilay  of  .liiniiary  in  each  yoar,  a  tax 
of  two  (lo'liir^  on  iht'  orm  hnmlrcil  dollari^,  atnl  at  that  rate  upon  all 
pri'niimiiH  which  nhall  have  hccn  rcccivoil  in  this  State  for  the  year 
L'UilinjJt  on  tho  preceding  Ulst  day  of  Kcceniher.  Hut  the  Siiperin- 
tondent  of  the  Insurance  I)i>purtin)fiit  shall  deduct  from  the  amount  of 
Hitch  fax  any  oiIht  taxen  paid  hy  such  companies  in  tliiw  Slato. 

Till'  ii^feiits  of  all  lire  compunii's  inkinj^  risks  in  incorporat»'d  oitieH 
or  villaK<'H,  excei)t  those  ol  New  York  and  liutTalo,  shall  annually,  on 
the  lirHt  day  of  February,  render  to  the  treasurer  of  the  lire  d<'part- 
iiR'tit  of  Huch  city  or  village  an  ai-connt,  vorilled  liy  oath,  of  all  premi- 
uniH  received  by  him  within  any  incorponited  city  or  vdlaj^e  for  the 
year  ending?  f)n  the  prececiing  .'ilHt  day  of  !)i  r^pnilter,  and  shall  pay  to 
Hitch  treasurer  a  tax  of  two  dollars  on  the  om-  hundred  dollarH,  and  at 
that  rate  for  the  whole  amount  of  such  premiumH. 

Kvery  (iro  or  marine  inHiirance  com[)any,  incorporated  or  organi/.tid 
under  tho  laws  of  any  foroign  cottntry,  shall,  annually,  on  or  Insforo 
the  lirst  <'ny  of  Aiigitst,  pay  to  tho  Trea.surer  of  the  State,  m  a  tax  on 
its  corporate*  franchise  or  husiness  in  this  State,  a  sum  oipial  to  (mo- 
half  of  one  per  contum  upon  tho  gross  amcmnt  of  premiiimn  rec'sived 
by  Htich  company  durinp;  the  year  ending  tho  preceding  tiiirtieth  day 
of  June,  on  business  dono  in  this  State*  by  such  company,  wbothcir  tho 
said  premiums  wore  in  money  or  in  tho  form  of  notes,  credit,  or  any 
other  Hul)rttitut<>  for  money. 

Other  State  and  foreign  companies  doing  business  in  New  York 
city  have  to  pay  a  tax  upon  city  premiums  of  two  per  cent,  to  the 
tntsteoa  of  th"  exempt  (iremen's  benevolent  fund. 

Every  such  insurance  company  shall  annually,  on  or  before  the 
(irst  day  of  August,  make  a  ri;turn  to  tho  (Comptroller  of  tho  State, 
signed  and  sworn  to  by  its  jtrosident  and  secretaiy  or  manager,  giving 
tho  total  amount  of  premiuniH  received  by  sttch  company  during  the 
year  ending  the  preceding  thirtieth  day  of  June,  on  business  done  in 


NKW    VOUK. 


Ia;1 


riK'lltN  COHMtitllt 

ml  till*  cuiKlitiiiri 
II  tliK  |iri><'i'iliii|( 
iliily  mlviTliKc, 
>r  liimiiH'MM  im  it 
irliiinno  of  any 

ili'purtinunt.,  tlitt 
Muul  (li>|)nrtini<nt 


t  of  Hiunit  iHHiii'il 
,8  Khali  Lfl  lixcil 

actual  itxpoiiNUH 


hIihII  jmy  to  tho 
I'licli  yi'iir,  II  tax 
lilt  riitr  inxtti  III! 
,t(>  for  tin'  yt'nr 
tut  lliii  .Siipttiin- 
n  tint  ainouiit  of 
liw  Sliito. 
•oiporati'd  citi»>H 
ml!  atimiiilly,  on 
tlu)  lin«  depart- 
th,  of  ivll  priinii- 
■  villiif^'c  fur  flio 
mil  shiill  pfiy  to 
i  dollars,  and  at 

:ud  or  organi?!od 
y,  on  or  Imforo 
tati',  as  a  tax  on 
n  oi|iial  to  ono- 
inimriH  runsivod 
nj?  tiiirtintli  day 
ny,  wliothur  tho 
i,  cnidit,  or  any 

w  in  N((W  York 
per  cont.  to  tlio 

1  or  before  tho 
or  of  tin-'  State, 
tnaiiojTiT,  giving 
pany  during  tho 
usinesy  done  in 


,hi,  Htal.  I.y  -uch  . :o,n,«.,y.  whalu-r  tho  -nid  pr. ..     m    *"""'»»"> 
or  m  tho  form  ..f  not.-.  ..rodiU.  ..r  any  oihor  «ul«ti..it..  f.r  >•'      f. 

Tho  land,  and  roal  a-tulo  of  -ud.  H.«uran.o  ....npanu.. -hal  u  • 
l.nuo  to  l«.  aHMo*,^Ml  and  fxod  whoro  «lm.t«l  fur  Htuto.  city,  town. 
....iiiiiv   villiiifo  •li'hool,  «»r  otlior  I'nal  piirponoK, 

Sog  t:.  inM.n««.«  co,„pani..  .!..!l  ann.u.Uy  pav  t ,  tho  Supor 
intondont,  on  <.r  hofoto  iho  Hr.t  day  of   March  a  tax  of  two  por  m, 

upon  all  pr..,niu,n.  r ivo,l  in  th..  l^talo  for  tho  yoar  ond.ng  on  iho 

prt'ccdiiig  :tUt  dii>  "t   Itoi-«ml»or. 

Ut'ciproottl  pruvwion. 

Prnillfh'M.  -  Any  violati-.tH  of  tl...  pr.>vUion«  of  law  »vlaling  to 
Hro  itlvtran'olhill  J'i'-^  >'«"  l"^'->y  ^'"'"""^  "'  "  l""""">'  "^  "'" 

''''"Inv  ;.|;;l!pany  failing  to  flln  annual  .tu.onu.n.H  an  roMuiro.'  ■  >  law 
a,,d  ,"  Li2ri.-.Hino!.S  i-  -uhjort  t..  a  ponaltv  of  Ivo  hun  In. 
dollarrun.Mlvo  hun.lrod  dollarn   for  oa.-h  n.ontt.  HU.h   l.u.im-..  .- 

"'"ri^'iLrHon  violating  thn  ^.rovi.iooM  of  tho  act  to  p'-y'"'; ;';-:;';;;;; 

nations  in  ivolioios  an.l  prnniuinH  in  l.fo  iimuranoo,  Hhallbo  donnod 
'      tTo    a'  ,  UoMioano!-.  and  >t  ,.  .nado  the  d..ty  of   tho  Huponn^ 
tulit  of  tho  InHurann.  Uopar-iont,  on  ''- -"7  ^'i;"  "  ^^.^     ; 
acting  an  agont,  Hul.agont,  or  U'niv.T,  lo  rovoko  at  on.  o  t>'"     '"J   V^' 
a  ahonty  ismo.!  !o  l.in.,  an.l  ...   «...■!.  .•o.lillca...  nhal    1...  .I,..r..aff 

iln'!l  t..  said  ...... vi..t...l  po.Hon  I.y  sa.d  Suporinton.lont  tor  tl...  .o.n.  ..f 

throo  yoarn  from  Iho  dat..  of  his  conviction. 

A8HKMHMENT    INHinANCK. 

InHu!.;!.;'!  a':l:^'uo..t,  ....'..lankK  fu,nisl.od  I.y  tho  ''j->-;;;  ;/;  .^  J 
condition  and  buB.noss;  tho  n...'c,sHary  .lun.n,.M.ts  to  «•'  ^  ^ 

oompnnioH  orga..i/.o<l  un.lor  tho  laws  of  Now  Y..rk  nniy  1...  '^""••"';  '' 
to  do  b..Hin..!;s  in  .1.0  Stat.,  wl..,ro  «.u-h  .•...npu-.y  ^  ^''^'^''''t't  .^  I 
,le.ig..ato  Koin..  pl.u-o  in  tl...  S.a.o  wl.or<.  .t«  pr...c.pal  agoncy  .»  Icattd, 
and  appoint  an  att.irnoy  to  acc.-pt  Horvico. 

Jiiiiif///  ,S7rf/ri/<r*»fN.  — Slatoinenta  inuHt  bo  lUod  on  oi- bo- 
fore  tho  V/r  day'  MarcK  each  year,  up..n  blanks  f..rn,sh..d  by 
So  Supot^ntotu  J.t,  Hl.owb.g  tho  condition  of  itB  ulla.rs  an.l  .is  tra-.H- 
actions  for  tho  procodmg  year. 

!,>/.«  —  For  liling  preliminary  papers  and  declaration,  ton  dollars. 

for  tHi..g  annual  sUtom.M.t,  on.-  .i-Har  for  each  lOO  membera  or 
fraction  thereof,  an.l  not  oxc-eding  Iwenty-fivo  dollars 

For  each  cokif.cato  of  authority  or  corffiod  co,.y,  hvo  <!->  '"«• 

For  copiea  of  papers  ten  cents  per  folio,  an.l  one  .loUar  for  oll.c.al 

""^''For  special  examinations,  actual  outlay,  not  to  oxcoe.l  fifty  dollars 
in  any  one  year. 

Reciprocal  provision. 


101 


NOirni  CAIIOLINA. 


NORTH  CAI^OLINA. 

[L('<{l»lHliiri' iiii'i'tH  liiehiiiiilly.    Nust  hkhhIi  ii,  Jutitiury   I8!il,] 
\V.    Ij.    SaCXIiKUS,    .SVtV..,//'//  itf  Stale,    Uai.kioic. 

Atf mission,  —  Evory  iiisuraiico  company  <lesiiing  to  do  Imsi- 
iioss  ill  tlic  State  must  appoint  a  i!;cii('i'ai  apint,  who  shall  lui  a  citizoii 
uiid  a  rcsiiiciil  of  the  State,  nw\  iil('  a  ccrtiiicatc  (if  Kueh  iippointment 
iiiKlcr  the  seal  uf  iho  iipplicaiit  to^c^tlior  with  tlu;  written  aceeptaiic.' 
I  hereof  hy  nncii  appi.iiiilee,  witli  tiie  Soi-rotary  of  Stale.  Tho  certili- 
catc  shall  contain  a  stipulation  agreeing  that  so  long  us  tluMO  mny  bo 
any  liability  on  tho  part  uf  tlu;  applicant  undtu'  any  contract  entered 
into  in  pursuance  of  any  law  uf  the  Stat((  (lonceriii'ig  insurance,  any 
legal  process  alTecliny  tho  •ipplicant  nuiy  be  served,  in  his  absence, 
upon  sucli  I'^'neral  agent  or  upon  the  Secretary  of  Slate,  and  wIkmi  so 
SOI  ved  aliivli  have  tlic  name  cijfo'jt  us  if  anrved  porsf)!uilly  on  such  appli- 
cant in  the  State. 

It  must  file  in  the  odice  of  tlie  Secreiiiry  of  State,  in  such  form  and 
in  such  detail  as  he  shall  [ire.scribe  a  statonnMit  of  the  business  stand- 
ing and  linancial  condition  of  the  applicant  on  the  preceiling  ihirty-lirs! 
day  of  Decombor,  signed  and  sworn  to  hv  said  principal,  or  t)y  tho 
cldef  managing  agent  or  ollictjr  thereof,  before  ihe  Sicreirry  of  State, 
or  before  a  commissioner  of  allidavits  for  ."*'  irth  Carolina,  or  iieforo 
some  notary  public.  It  shall  also  lile  in  tlie  ■lillce  of  the  .secretary  of 
State  a  co|)y  of  the  charter,  articles  of  association,  or  otluM-  .stattunont 
sliowing  the  nuxle  in  which  the  api)Iicant  proposes  to  do  business,  and 
shall  pay  the  license  and  other  fees  letpiirtsd. 

y\1jstracts  of  annual  statenuiuts  must  bo  publislied  in  some  iState 
newspajior. 

Af/t'Hfs. —  Evory  gen<!ral  agent  shall  file  m  the  odicn  ot  the 
Secietary  uf  State,  on  or  before  the  lirst  day  of  March  in  each  yei>r, 
in  such  form  and  in  such  detail  as  the  Secretary  'shall  prescribe;, 
a  statem(!nt  snowing  tlie  bu.sine.ss  standing  and  (inanciai  comntion  of 
his  principal,  on  the  preceding  thirty-lirst  day  of  DecemtKU',  signe;l 
and  sworn  to  by  said  principal,  or  'he  chief  managing  agent,  or  ollicer 
thereof,  liefoio  the  Secretary  of  State,  or  before  a  cimimissiuner  of 
riri(iavitH  for  North  Carolina,  cr  before  some  notary  public. 

To.jfcs,  —  Every  gen'u'al  agent  shall,  within  the  fi'-"*  Uiirty  days 
of  January  and  July  of  each  year,  make  a  full  and  cr  n  i  stut'.'n.ent, 
undo;   oath,  of  the  amonnt  of  the  gros?;  receipts  d'  i  from  insur- 

ance business  obtained  from  residents  of  the  Sta.;-'  i  ing  the  j)re- 
ceding  six  months,  and  shall  within  the  first  liftcon  di.-ys  of  February 
and  August  of  eacli  and  every  year,  pay  to  the  Secretaiy  vif  State  u 
tax  of  two  per  cent,  upon  the  amount  of  such  gross  receipts  therein 
returned  [pnnided,  that  if  any  general  agent  shall  'jxhibit  to  ti.e  Secre- 
tary of  State  a  sworn  statemen;.  of  investments  in  real  property  in 
the  State  by  his  pri,-icipal,  or  a  like  state?nent  of  loans,  secured  by 
mortgage  to  citizens  of  the  State,  of  an  amount  equal  to  one-halt  of 
such  gross  receipt,  the  tax  shall  be  only  one  per  cent,  the;  von). 


I8III.] 
,KIOH. 

ring  to  do  buai- 
iliitll  lu)  a  citizoii 

Kih    llpIloilltllK'Ht 

■ittcii  nci'cptanc'.' 
If.  Tlio  c'tM'tili- 
us  tluMo  may  bu 
i;ontrii(;t  oiitoivil 
j;  insiinitict',  iiiiy 
ill  liis  iibseiict", 
ito.  and  wIkmi  so 
lly  on  such  uppli- 

in  such  form  and 

■  busin(!ss  stiuid- 
n'diiig  tliirty-lirst 
loipa),  or  l)y  tlio 
■(.•I'cii  ry  of  Stato, 
rolina,  or  Ixit'oro 
tilt'  .M'O'ctiiry  of 
r  otluM"  statcKUint 
do  businoss,  and 

10(1  in  sonic  Stalo 

tlie  oflico  ot  the 
fell  ill  each  VOi-r, 
'ifiall  proscriho, 
ciiii  coiiMition  of 
)(.'C('inb(^r,  .signed 
X  agoiit,  or  odiccr 
(.■onimirisionor  of 
public. 

!  fn'-^t  i,hirty  days 
en-  t  stut«.'n.ont, 
'-'f  I  froiii  iiisur- 
■  '.1  ing  the  piv- 
h;vs  of  February 
rotaiy  of  State  a 
;  roccip.s  therein 
[libit  to  ti.e  Sccre- 
real  property  in 
loans,  secured  by 
il  to  oiio-halt  of 
.  the.  .on). 


OHIO. 


105 


L.  . »,?   T  h.ruMfH  —  'I'lK'  ftM"  for  liconso  is  (ifty  dollars  per 

_fWn  mm  IjimiSf'*'  .  .      ,,  _^  ensu  ng  twelve 

accrue.  ,     a*  * 

shall,  upon    c.(,nviotion   thereof,  bo  deemed   guilty  ot  y, 

punished  accordingly.  „;..„;„„i   nr  ntront  Bhall  solicit,  ex- 

Every  ,>cr.on  »  ,0.  mthcr  ^j''  3  LtaKtiu' >,  ar  au.  in  ..1. 
amine,  or  inspect  any  risk,  or  «»'      '^'  transmit  any  premium  of 

justing  any  loss,  or  shall  ro'^-^r-Jlf  K^J.^S'^  making,  or  execut- 
insurance,  or  shaauoauj^ul....^... .-,--  -■      Uian  as  fbe  law 

the  suit  of  said  sheriff.  .    ,,  r   i  ^..  mfneo  to  iiorform  any  duty 

Every  general  agent  ^vho  sha  1  fa.   or  ^^  "  «  J«  f '^  /^I'.^i,^  Jt 

justice  of  the  peace  at  the  suit  of  said  Secretary. 

ASSESSMENT    IN8UUANCE. 

cmpamcf,  as  mch.     All  »»°  '  «°"  »"  ',  bi-iiCTolont  aK.H-iau..n.  iiu-or- 
"^  ''"'■'.'i;S»re!td  wS  1  noJ  »Uci.  businc,,  t„r„„«>,  .«en,a. 


porated 


OHIO. 

ILcgi^lature  meet,  biennially.    Next  B'es.lon,  January,  1891 .] 

Samuel  E.  Kem;-,  Superintendent  of  Insurance,  Columbus. 

^^«ToUi°e  ?o™pa„y,  .how,„g  f»X'comp'Sw'?t''»y  was  .nade 
""tSrl*.neTd'fy*oed   «,d    Ja  J.  authorising    any 
14 


lU(i 


OIJIO. 


»*! 


agent  of  the  company  in  tluH  Siiiic  ii>  ackiiowlodgp  sorvico  of  procoHs, 
for  and  in  holialf  of  the  company  ;  ami  conHnntinj^  that  aorvice  of  pro- 
cess upon  any  such  (.."nt  shall  be  taken  nmi  held  to  be  as  valiil  us  if 
served  upon  the  company,  and  waiving  all  claim  of  error  l>y  reason  of 
such  acknowledgment  or  service  ;  and  in  case  suit  shall  ije  brought 
against  any  company  which  has  ceased  to  do  business  in  this  State, 
si'.ch  written  instrument  shall  also  provide  thai  service  of  pnxH'ss  may 
be  made  tlusroin,  by  the  sheriti  sending  a  copy  of  such  process  by 
mail,  postage  pre[)aid,  a<Mressed  to  the  company  at  tiu;  place  of  its 
principal  ollice  in  tlu;  State  where  it  was  organized  ;  or,  in  case  of  a 
foreign  company,  add r(!Ssed  to  the  company  at  the  phuMf  of  its  princi- 
pal oilice  in  the  United  States,  thirty  days  before  judgment  in  tlicsuit. 

Every  company  in  its  adveitiaenienls  shall  state  only  the  assets  ad- 
mitted l)y  the  Superintendent  of  Insurance,  and  shall  include  therein 
all  its  Uabilities,  including  its  reinsurance  reserve  computed  a(!cordiiig 
to  law. 

If  any  company  make  an  ap|)ii('ation  to  remove  any  suit  or  action 
commenced  in  a  fstate  court  to  any  United  Slates  court,  the  Superin- 
tendent shall  forthwith  revoke  its  license  to  transact  business  m  this 
State,  and  no  renewal  thereof  shall  be  granted'for  three  years. 

Ceftifleafi'H  and  Afft-ntt*.  —  Every  company,  before  trans- 
acting business  in  this  State,  must  procure  from  the  Superintendent  a 
certidcate  of  compliance.  Such  certificate  of  compliance,  containing 
a  statement  under  the  oath  of  the  president  or  secretary  of  such  com. 
pany  showing  tUe  actual  amount  of  the  paid  up  capital,  the  aggregate 
amount  of  assets  and  liabilities,  together  with  the  aggregate  income 
and  expenditures  of  the  company  for  the  year  preceding  the  date  of 
such  certificate,  .^liall  be  published  at  least  once  in  every  yjsar  in  some 
newspaper  in  general  circulation  in  every  county  where  such  company 
has  an  agent.  A  copy  of  such  certificate  shall  be  filed  in  the  oflice  of 
the  recorder  of  county  in  which  such  company  has  an  agent. 

Every  agent  before  transacting  business,  sliall  procure  from  the 
Superintendent  a  license  for  each  company  he  represents,  and  shall  do- 
posit  a  certified  copy  of  such  license  in  the  office  of  the  recorder  of 
the  county  in  which  the  office  of  such  agent  is  established. 

All  certificates  shall  be  renewed  annually. 

Exaniinntions  and  ImpairtnctttH.—  Whenever  the 
Superintendent  shall  have  good  reason  to  suspect  the  correctness  of 
any  annual  .statement,  or  that  the  affairs  of  any  company  are  in  an 
unsound  condition,  it  is  his  duty  to  make  or  cause  to  be  made  an  ex 
amination  into  the  affairs  of  such  company.  If  ho  deems  it  for  the 
best  interest  of  the  public,  he  shall  publish  the  result  of  such  exam- 
ination  in  a  newspaper  of  general  circulation  published  at  Columbus. 

Whenever  the  affairs  of  any  company  are  found  to  be  in  an  un- 
sound condition,  the  Superintendent  shall  revoke  the  certificates 
granted  to  such  company  to  do  business  in  this  State,  and  shall  publish 
a  notice  of  such  revocation  in  a  newspaper  published  at  Columbus  and 
in  the  county  where  the  general  agency  of  the  company  is  located. 

A  fire  and  marine  company  cannot  transact  business  in  this  State 
if,  after  the  company  is  charged  with  its  proper  liabilities  and  a  re  in- 


rvido  of  proiJOHS, 
it  aorvift'  of  pro- 
be us  valid  UH  if 
ror  by  reiison  of 
ball  1)0  broiif^ht 
s  ill  this  Stat,*', 
)  of  process  may 
siK'li  procL'Hs  by 
tilt!  placo  of  its 

or,  in  case  of  a 
(U)  of  its  princi- 
;in('iit  in  tlic  suit. 
ily  tlio  assots  ad- 

inclvulo  tborcin 
iputt'il  a(tcor(Hiig 

ly  suit  or  action 
rt.  tli«>  Suporin- 
busiiii'ss  m  tliii'i 
reo  years. 

ny,  before  trans- 
iiiperinteiKlent  a 
fince.  coiituiniiig 
ry  of  suoli  com. 
il,  the  aggregate 
;gregate  incom*! 
ing  the  date  of 
iry  y<!ar  in  some 
re  such  company 
d  in  the  oilico  of 
I  agent. 

I'ocure  from  the 
nts,  and  shall  do- 
the  recorder  of 
3hed. 

-  Whenever   the 
[)  correctness   of 
npany  are  in  an 
bo  made  an  ex 
leems  it  for  tlie 
of  such  exam, 
id  at  Columbus, 
to  be  in  an  un- 
the    certificates 
md  shall  pubHsh 
it  Cohimbus  and 
ly  ia  located. 
'iss  in  this  State 
ities  and  a  re  in- 


OHIO. 


107 


...ranco  fund  as  -.-•'-J/'y  j-^^Slh'nl;  J.^^^ 

extent  of  twenty  per  (.mU    '         '  ;  ;^'^' ,,;;,  ;„  this  State   if  its  as-sets 

A  Ufo  company  cannot  l"^^''"'"^.    /,    ^  "    i,.„iuai,,j,  its  premium  re- 
are  not  equal  to  its  outstanding  habihtu.s,  inUuUinK         I 
serve  asctirtained  as  ro(iuired  by  law. 

nr.  oud  Mai'lne.-y^^-^ry  company  must  posscsB  a  paid- 

,,,/-,.-Kvcry  -lock  con,p.ny  n...t  P"-7;„£>li',:i;:;r;S 
State,  or  tho  r'"P«\»'«?^f  *"„!''  .„"b»n<l»  ■>'  «'""»  »""  "*  ""i 

the  officer  holding  such  deposit,  slu^wing  that  M  »  ^    j^^^  ^^  ,„,!, 

trust  and  on  .leposit  for  the  benei^  °J,^^,^  Z  stating  that  he  is 

can  Experience  Table  of  '^'"'^^^  5^'  J.,  'ti^^  policies  outstanding  m 
The  Superintendent  shall  ^'".^"f/y  If/;  ^  X\!Cao  not  furnish  him  a 
all  companies  doing  ^J^^^";*^^;.  "^^^  J^ '  SX  authorized  by  law  to 

Ihalby  Ao  standard  of  valuation  adopted  by  this  State. 

Z^,.W„«.-F.very  --F-ny  —  S''i»„Stc:,'*  t 
Sup«ri».»mU.nt  ot  «"«  I'J'jJ  «   g  2.  , or  the  benefit,  in  ease  of  Bre 

"•  'Se-5;rorjf^fi.j"t^2x^/^'^tioS^ns 

value  of  its  deposita  with  the  several  States,  ana  me 


M? 


m 


_*^ 


108 


OHIO. 


invuislinoiitij  lieltl  by  trustuos,  tili/,«Mi8  of  llio  (Jnitcsd  Stntos  approved 
by  tlic  liisiuaiu'c  Coimiiissioner,  I'or  tin-  bciiolit,  t)f  policylioldora  in 
the  Uiiitvd  States. 

In  addition  to  tlio  annual  statement,  every  sueli  company  hIuiI! 
annually  lilu  at  the  same  time  a  Hupplt^mentary  statement  showing  it* 
investments,  condition,  and  alTairs  in  the  United  States  on  the  preced- 
ing ;Ust  day  of  December. 

Such  supplementary  statements  must  be  verified  in  case  of  fire 
companies  by  the  oath  of  tlu!  manager  residing  in  the  United  States, 
and  in  case  of  life  companies  by  the  oath  of  general  agent  or  attorney 
in  this  Slate. 

Drfiosifs,  —  (See  Life  and  Foreign.) 

l^^'Cft,  —  For  tiling  charter  of  any  company,  twonty-fivo  dollars. 

for  (iling  the  preliminary  statement,  twenty  dollars,  and  the  same 
fee  for  (iling  each  annual  statement. 

For  oacli  certificate  of  authority,  or  license  and  certified  copy 
thereof,  two  dollars. 

•  For  any  copy  of  every  paper  filed  in  the  ofTice  of  the  Superin- 
tendent, twenty  cents  per  folio;  and  for  aflixing  the  seal  of  ofiBco  and 
certifying  the  sarno,  one  dollar. 

Any  company  may  pay  to  the  Superintendent  two  hundred  and 
fifty  dollars  for  licenses  to  its  agents,  and  may  appoint  as  many  agents 
as  it  chooses  without  further  charge. 

B\)r  valuation  of  life  policies,  one  cent  for  each  thousand  dollars  of 
insurance  valued. 

For  making  examinations  of  companies,  the  actual  expenses 
incurred. 

Reciprocal  provision. 

Tuxes.  —  Every  agency  of  an  insurance  company  incorporated 
by  the  authority  of  any  other  State  or  government,  shall  return  to  the 
auditor  of  each  county  in  which  such  company  does  business,  or  from 
which  it  collects  premiums,  in  the  month  of  February,  annually,  the 
amount  of  the  gross  premium  receipts  of  such  agency  for  the  previous 
calendar  year  in  such  counties,  which  shall  be  entered  upon  Lhe  tax- 
list  of  the  proper  county,  and  subject  to  the  same  rate  of  taxation  for 
all  purposes  that  other  personal  property  is  subject  to  at  the  place 
where  located,  for  the  year  in  which  such  premiums  are  received. 

The  whole  of  such  tax  is  due  and  payable  on  the  20th  day  of 
December  next  ensuing.  It  is  the  duty  of  the  county  auditors,  in  the 
month  of  March,  to  certify  to  the  Superintendent  of  Insurance  the 
amount  of  receipts  returned  under  this  act  by  each  company,  with  the 
rate  charged  against  the  same;  and  the  Superintendent  in  the  month 
of  April  annually  charges  and  collects  from  all  such  companies  such  a 
sum  as  added  to  the  sum  payable  to  the  county  treasuries  will  produce 
an  amount  equal  to  two  and  one-half  per  cent,  on  the  gross  premium 
receipts  of  such  companies.     Retaliatory  provision. 

Penalties.  —  Every  person  who  shall  violate  the  provisions  of 
law  relating  to  insurance,  or  solicit  insurance,  or  act  as  agent  for  any 
company  not  authorized  to  do  business  in  the  State,  or  in  any  manner 


mm 


()RK(K)N. 


lOrt 


Statf'8  apprcved 
|)()licyliol(ifirs  in 

1  cornpnny  hIihU 
riont  Mliowiiig  ilis 
39  on  the  procod- 

i  in  case  of  fire 
10  United  States, 
g(!nt  or  attorney 


ty-fivo  dollars. 
r8,  and  the  same 

i  certified  copy 

of  the  Superin- 
eal  of  oflBco  and 

i^o  hundred  and 
,  as  many  agents 

usand  dollars  of 

actual  expenses 


,ny  incorporated 
all  return  to  the 
lusiness,  or  from 
ry,  annually,  the 
for  the  previous 
id  upon  Uie  tax- 
of  taxation  for 
to  at  the  place 
re  received. 
;he  20th  day  of 
auditors,  in  the 
f  Insurance  the 
DQpany,  with  the 
it  in  the  month 
ampanies  such  a 
•ies  will  produce 
!  gross  premium 

he  provisions  of 
is  agent  for  any 
'  in  any  manner 


„i,l  ,h,.r..i.,  -Imll  !..>  1 1"  .o.li.....,,..  .x.;.;!"..!..-'!-"""''  ■''•"""• 

„,„l  l„„.r,„.n,„.....  n..l  .;x»..l.nK  -..  m™H,".  ^,^^,^. 

;;;;iir  :,it;'  'iXi  ;);:ili-«  -r  -, .,.1, ..  »...i"- "-  ■'- 

thousand  dollars. 

ASSr.SBMKNT    INSUBAMOE. 

4  ,      /..;.wi        Asm-ssm.'nt   companies    of    other   States   must 
AdiniHHhm.  -^'^^'^^'^■^'"' '      ^,„;„,  nmccss  niav  be  served;  must 

Se  where  it'is  organised  under  hkecondm^^^^^  ^^ 

The  conditions  of  admission  ^'^^^^^/^^^^Jf Jj' "o  mJdical  exam- 
Ohio  companies.  Every  '^PPl>7^."V^^'„^,Xte  over  fifteen  and  under 
ination,  and  found  to  be  a  good  nk  ""  be^^^^i^,,,,,,  ^,.3,  i,e  „,et 
Sixty-five  years  of  age;  the  «^f  "«;\"'  "  „„„t,  ^ade  expressly  for 
by    fixed   --"^;;lP^Y7t:;u"r';urgr  bonds   for   tie   faithful 

^iSl^n  cTbr^rfrrtr^rSs^of  1^^  assessment.^ 

F^eH  -No  fees  are  charged  to  co-operative  associations  except 

exclusively. 

OREGON. 

•         iLeKl«l.ture  meet,  biennially.    Next  B.wlon,  Janusrj,  IHOl.] 

George  W.  McBride.  Insurance  Commissioner  ex  officio,  Salem. 

.  ,      ,      '  RAfnrn   transarting    business   companies    must 

Jfl,w/8«1on.-Be  ore   tr^"^^^^^^  Commissioner;  must 

have  ^f 't^h^^  «  «f  ^^.f^"^^^^^^^^^  dollars,  to  be  kept  for 

deposit  with  the  State  ^r^a^"'^^^  ""^„  ,ionosit  to  be  in  IT n  ted  Stales 
thi  benefit  of  creditors  m  <>f  8°°' \''".f"S  county  or  town  bonds 
or  State  bonds,  or  municipal,  schoo    district  county  ^^  ^^ 

issued  by  legal  authority  in  the  ftato  of  Oregon    or^  ^       . 

investment  of  $65,000  in  real  estate  ™Y  .^^  "^^^^^^^  •  "en  and  resident 
must  execute  ..  power  of  attorney  ^PP«"*Xsrmeobo  recorded  in 

of  the  State  t  accept  f  r^>^«;/" J^^^!"f ^a  a  resTden?  agent.  It  must 
the  clerk's  ck..»  >f  each  county  where  it  has  J  resmc  fe  .^^^^^  ^f 
show  to  tbe  Insurance  Commiss  oner  b^t^^e^^e^^^^^^^^^  department 
the  proper  officer  of  some  other  estate  naving  a  hundred  thou- 

r^i.  ofliSool  B^uirod  oi  lib  msursnoo  compame.. 


V  \ 


1 


no 


ORKOON. 


Animal  SfafrinrntM  hihI  npiilicutiim  for  liconHc  imiHt  l)c 
iiiiulc  ti)  llio  liisui'iitico  ('(iimiiisMioii  'V  wifliin  tliirty  iliiys  fmiM  the  lirst 
of  Junuiiry,  at  which  tiino  (lonipiiuif's  so  iipplyiiig  sliiill  i»iiy  to  tho 
coiiiiiiissioiior  tlir  feo  iwiuirod  by  tho  stiitiito. 

]pa^*Uit{ nations,  —  Tho  Comniissioncr  is  iiuthorizod  tooxamino 
tho  coiuiitiou  of  conipimics  upon  compliiiiit  of  thri'(!  citi/.tdis  unioss  tlio 
compiuiy  prt'sonlH  him  a  curtilicato  from  some  oth(M'  Oommissioiicr 
that  it  is  in  sound  coiulition  liiiiincidlly.  If  .such  (Msrtiflcati!  or  siilisfin!. 
tory  proof  is  not  forthcoming^  witliin  sixty  days  after  demand  tho 
Coranut.^ionor  shall  rijvoko  cijrtificate. 

X//V'.  —  The  Commissioner  shall  accept  the  valuation  certificate  of 
tho  Commissioner  of  any  Wtiite  in  which  cotni)any  is  organized.    (!oni 
panies  may  appoint  agtmts  to  colloct  premiums  oidy  oa  payment  of 
five  dollars  for  certificate. 

Vt'f'H.  —  To  Commissioner  — 

For  tiling  power  of  attorney  and  issuing  certiiicute.  five  dollars. 
Kor  annual  license  to  fire  insurance  company,  fifty  dollars. 
For  annual  license;  to  life  companies,  one;  hundred  dollars. 
For  examinations,  expenses  incurred. 

To  treasurer,  ten  dollars  for  filing  certificate  of  deposit,  and  ex- 
penses of  printing  notices. 

Foi'ciffn.  —  Companies,  except  marine,  must  have  deposited  in 
the  United  States  at  least  two  iiuudred  thousand  dollars,  licfsides  fifty 
thousand  in  Oregon. 

Tn.X'rK.  —  Fire  and  marine  insurance  companies  must  appoint  a 
general  agent  to  whom  all  other  agents  in  the  State  shall  rejiort,  and 
who  shall,  on  or  before  the  first  day  of  March  in  each  year,  furnish  tho 
Insurance  Commissioner  a  sworn  statement  of  the  total  business  trans- 
acted by  such  company  within  the  State  of  Oregon  during  the  year 
ending  Decemlxjr  iilst  prior  thereto.  Such  statement  shall  sliow  the 
total  gross  prennums  received  during  tho  year,  from  which  shall  bo 
dec'ucted  returned  premiums,  re  insurance,  agents'  commissions,  office 
expenses,  and  licenses,  and  losses  paid  in  the;  State ;  and  every  such 
foreign  fire  and  marine  insurance  company  shall,  within  thirty  days 
from  the  date  of  such  annual  statement,  pay  to  the  Insurance  Commis- 
sioner a  tax  of  one  per  cent,  upon  tho  total  amount  of  not  premiums 
received  by  it  u|)on  business  done  or  risks  assumed  within  this  State, 
as  shown  by  its  animal  statement,  and  shall  pay  the  Commissioner  a 
fee  of  five  dollars  for  filing  such  statement. 

J*en<llth'H, —  r'or  deceptive  advertising,  five  hundred  dollars  fine. 
P^or  doing  business  without  authority,  five  hundred  dollars. 
For  violation  of  any  other  provisions  of  tho  law,  a  fine  of  not  less 
than  one  hundred  nor  more  than  five  hundred  dollars. 


ASSESSMENT    INSURANCE. 


The  above  requirements  apply  to  assessment  companies,  except 
secret  and  fraternal  orders. 


PKNNSYIA'AMA. 


Ill 


liceriHi'   must   \w 

iiVH  fmiM  tlio  lirst 
'  sliiill  piiy  Id  tlu! 

orizod  to  oxamino 
;iti/(!ns  unloss  Ihn 
KM'  Ooimnissioiicr 
ilicatc!  or  siUisfiic 
flur  domaiul  tlio 

atiori  ccrtificatoof 
orgaiiizcil.  (!oin- 
ly  on  paymunt  of 


,(>,  fivo  dollars, 
y  dollars. 
I  dollars. 

(lopusit,  and  ex- 

liavo  deposited  in 
liars,  liesidoH  fifty 


iS  must  appoint  a 
)  shall  ri)j)ort,  and 
1  year,  fiirniali  the 
tal  business  trans- 
1  during  the  year 
3nt  shall  show  tlio 
n  which  shall  bo 
ominissions,  office 
1) ;  and  every  such 
A'ithin  thirty  days 
isuranco  Conunis- 
.  of  net  premiums 
within  this  State, 
i  Commissioner  a 


indred  dollars  fine, 

ed  dollars. 

a  fine  of  not  less 

s. 


companies,  except 


PENNSYLVANIA. 

[LrtfUliitiiro  mo«lH  bli-tml»lly.    Next  «k»1oii,  Jaimiiry  I,  IHUl.l 
J.    M.    KoHrtlKK,    Insnrawr  Commissionrr,    11  MlltlHHlUii. 
t.tmi^Mlon  —  Kvcry  company  .>sirinK  to  transact  bumness  in 
,,,^]^:::^Z!!o'l' >.U^nJ^^  ..uLt  me  wtl.  the   insurance  (V„nm.s. 

sionor—  .       ■     » 

A  certified  conv  of  I's*  charter.  •  i  .., 

A  -h,  "...t  vonli.',n.yll.o»iKiialuri.«iul  "alliH  .,t  ll>,.  i.rcM.I.'i  1 

„,.  vt,",' ",;i™t  ■M.a  «.ral»ry  ..r  ,u:.n,u-y  »l  tl,,.  c....M.»..y,  »lu,vv,ng  ,1, 

*r:Ht;;'':uH»ti ,.„iy i..-.,,..,i  ..y  n„.  .■,.,ni«„y  .^^ 

company  in  this  State. 

rt-t'titirah'H  and  A^ft'nts.-i^'^^'ry  company,  before  trans- 
actirut  b.Hiues     n  this  State.'n.ust  procure  trom  the  Comnnssioner 
cS-a^e  of  authority  showing  that  such  company  is  author./.ed  to  do 

'^::;;ichS;^nyshan  from  tin.e  to  tune  certify  to  tl.C..m 
missioner  the  names  of  the  agents  appou.ted  by  it  to  sol.ut  nsk^ 

""\>.>;y  such  agent,  before  transacting  ^>^^^^^^^^-^  j!^' ^y ;'^,;;Z^ 
pany  shall  procure  from  the  Commissioner  a  certilicato  of  au  ho  ty 
showing  that  the  company  has  complied  with  the  requirements  of  law 
and  that  he  is  duly  appointed  its  agent. 

All  certificates  must  be  renewed  annually. 

sion^forprll  "cause  ly  visit  /nd  examine  any  company  domg 
busines  i^Ahis  State,  provided  such  company  is  not  locate.l  m  a  S  ate 
w?etbe  substantial  provisions  of  the  act  of  t'-  Sta^« /"^lUed^  A"^ 
Act  to  Establish  an  Insurance  Department  are  enacted  Whenever 
he  shall  deem  it  for  the  interest  of  the  public  he  shall  publish  to 
result  of  such  examination  in  one  or  more  publications  in  this  b  at. 
He  shall  revoke  or  modify  any  certificate  of  authority  granted  to  o 
Sia  f  of  any  «uch  company:  whenever  its  assets  are  insulhcient  to 
Sfy  its  continuance  in  business,  or  when  any  conditions  prescribed 

'^  'tI'£:^S:S^::^:^^^^^^  company,  aner  tj.  ^ 
pany  is  changed  with  all  debts  and  claims  against  it  and  the  sum 


112 


I'ENNSVIiVANIA. 


roi|uire<]  hy  law  for  a  ro  inHiiriun'o  fiirnl  m  itiipiiirt'il  to  tho  oxtont  of 
twtiiity  |ior  (•••iiliiin,  llu- CiiiiiiiiiMHiniicr  nlmll  kivk  noticK  to  tim  (romimiiy 
to  iimki-  j^ootl  ilM  wlioli'  nijiitiil  Ktock  within  nixty  iliiyn,  iirMi  if  thin  is 
not  tloiiu  III!  hIiiiII  riMjuiru  tho  company  to  vv&nu  to  do  bunitu'H8  in  thii 
State. 

If  any  lif«  inHuranco  company  Han  not  on  hond  th«  not  valiio  of  all 
itM  policum  in  forco,  awiortaitu'd  aH  ruiiuiriMl  by  law,  aftor  providing  for 
all  dobtH  and  claiiiis  agaiimt  it.  o.\clusiv«  of  capital  stock,  tlio  Com- 
misMionur  Hhall  piil)liHli  tho  fact  that  the  then  oxiMtmg  condition  uf  thu 
alTain  of  hiicIi  company  in  b(dow  tin'  Htandard  of  legal  safoty  cHtab 
lishod  by  the  lawH  of  this  Statu,  and  Hhall  roqiiiro  tliu  company  at  onco 
to  c»a8u  doing  new  busineBt). 

/V/v  tnul  Mttrine.  —  Kvery  company  must  havo  a  capital 
stock  paiil  in  not  Ivmh  than  two  hundred  ihoiiHand  doUarn,  or  having  a 
capital  Htock  Iosh  than  that  sum  and  morti  than  onu  hnndrod  thouaand 
dollars,  inuHt  havo  a  Hurplua  ovtM-  all  liabilities  Hulliciunt  to  amount  with 
it»  capital  stock  to  said  sum  of  two  hundred  thousand  dollars.  'I'luH 
provision  shall  not  apply  to  companies  authorized  to  do  business  in 
this  State  at  tho  time  of  tho  pasHago  of  tho  act,  until  the  (Irst  day  of 
May,  A.D.  1881. 

Annual  statements  must  be  filed  on  tho  first  day  of  January  in 
each  year,  or  within  sixty  days  thoroafter,  showing  tho  condition 
and  business  of  the  company  on  tho  preceding  thirty-first  day  of 
December. 

The  reinsurance  fund  is  computed  a  fifty  per  centum  of  all  pre- 
miums received  on  unexpired  fire  risks  having  loss  than  one  year  to 
run,  and  pro  rata  of  all  jiremiums  received  on  unexpired  lire  risks 
that  have  more  than  one  year  to  run;  the  entire  premium  received  on 
unexpired  marine  and  inlanil  navigation  risks.  Every  policy  which 
contains  a  reference  to  the  application  of  tho  insured,  or  the  constitu- 
tion, by-laws,  or  other  rules  of  the  company,  either  as  part  of  the 
policy  or  having  any  bearing  thereon,  must  have  attached  thereto 
correct  copies  of  the  application  or  of  such  constitution,  by-laws,  or 
rules,  and  unless  so  attached  such  application,  constitution,  bylaws,  or 
rules  shall  not  be  considered  a  part  of  the  policy  or  received  in 
evidence. 

Ijffe, —  Annual  statements  must  be  filed  on  the  first  day  of  Jan- 
uary in  each  year,  or  within  sixty  days  thereafter,  showing  tho  condi- 
tion and  business  of  the  company  on  tho  preceding  thirty-first  day  of 
December. 

Valuations  are  made  upon  the  basis  of  the  Actuaries'  Table  of 
Mortality,  with  interest  at  four  per  centum  per  annum. 

Tho  Commissioner  is  required  to  annually  calculate  the  premium 
reserve  of  every  company  which  does  not  furnish,  on  or  before  the 
first  day  of  March  in  each  year,  a  certificate  from  the  Insurance  Com. 
missioner  of  the  State  under  whose  autliority  tho  company  is  organized, 
showing  the  value  of  all  the  policies  in  force  in  tho  company  on  the 
preceding  thirty-first  day  of  December,  caloilated  on  the  basis  required 
by  the  laws  of  this  State,  and  stating  that  after  all  the  debts  of  the 
company  and  claims  against  it  were  provided  for,  it  had  in  safe  securi- 


PENNSYLVANIA. 


113 


tu  tho  oxtont  of 

'.o  to  tlio  <-iiin|iuiiy 
lys;  uikI  if  IIum  Im 
r>  biixiiiuHH  in  tliiM 

iti  not  value  of  all 
ftor  providing  for 
I  stock,  tlio  Com. 
;  condition  of  tho 
sgal  safoty  uHtab 
company  at  oncu 

tt  havo  a  capital 
illai'M,  or  having  a 
iiiniiroii  thouuand 
lit  to  umount  with 
md  dollars.  TIuh 
:o  do  biiaint-HH  in 
il  tho  (irst  day  of 

lay  of  January  in 
ng  tho  condition 
hirty- first  day  of 

:;entum  of  all  pre- 
than  ono  year  to 
iio.xpired  firo  risks 
tniuin  received  on 
very  policy  which 
d,  or  the  conHtitu- 
r  as  part  of  the 
attached  thereto 
Lution,  by-laws,  or 
tution,  bylaws,  or 
y  or  received   in 

I  first  day  of  Jan- 
lowing  the  condi- 
thirty-first  day  of 

ctuaries'  Table  of 

m. 

late  the  premium 

on  or  before  the 

9  Insurance  Com. 

pany  is  organized, 

company  on  the 
the  basis  required 

the  debts  of  the 
had  in  safe  securi- 


,i..  .„  .mount  .„«.!  ...  U...  nj,  v.l,,..  ..t  »UJ..  H'*-  l^^J^^l^if, 

of  the  inmuvl.  ..r  th.>  n.nMt.tut.j.n.  ''V';^  !  ':,',„  I  .arin>r  thonum, 

not  bo  cotisidiired  a  jiart  ol  ino  poiiiy,  ui 

,V,,        Annua.  st...,nen. 
;;X:th  ;:;:;' i;rinMi::^tion  an.l  busin...  of  .ho  company 
,n,  U,.>  prer..ding  thirtyHrHt  day  of  Decoinbor. 

I,'     .        Vnr  fiiiMir  rortifiod  copy  of  chartor,  tw.-nty.fivo  dollars. 

f:;'nii7K':ntl'tatr.nont.  or'^-ertilicato  in  ii.u  ther.-of.  tw-nty 

^""S  each  certtflcato  of  authority  and  certified  copy  thereof,  two 

^''"S':;Z;in  oMife  insurance  polici...  not  oxceed.ng  three  cent. 

for  .ach  ono  tlu.t.sand  dollars  of  ^^^^^J^^^:^;^  ,,,,,,  „,penHos  in. 
For   official    examinations   of   companies,  ino  numai      , 

ncss  in  this  iState. 

Reciprocal  provision. 

^  ir„orv  r-nmnanv  autliorized  to  transact  business  in  this 

sioner,  under  the  oath  of  its  presid.Mit  or  *-<'7  f^y- "'   ,^.'   "   j,,„  y,.ar 
S"ito -iCX  rt.«  o"t»o  /or  ■■e„l..n,  on  ,uch  „™,„,u.,,». 

dT^e'KirLKrrrf  r:s  si  t„eU  in 

which  such  illegal  business  is  transacted. 
16 


ill 


Ill 


I'KNNaYLVANIA 


AMRMMCNT   INNHHANnB. 

Athn  inHioii.  —  AHXfMiiiont  roiiipttni«'H  of  oth«ir  Statitii  mint  do 
pimii,  Willi  the  liiHiiniiici'  Ci>inmii>Mii)nor  ft  (!i>rtill»nl  nipy  of  itM  oliiirirr 
iir  iirticli'n  of  incnrpoiiili'm,  a  i'o|>y  of  it>*  Htntcnit'iif  of  buHincMM  for  tin- 
[iiDci'iliiin  yi'iir,  MWurii  to  liy  tim  pn'siilt'iit  iiml  Ht'cn'tiiiy  or  liko  onicfTM. 
HhowihK  n  tli'tiiiN'il  nciotint  of  tln'cxp»'ii<litiiiciH  iin«l  incoiiif,  tliciinimmt 
of  iiisuruiici'  ill  forcr,  its  a!*«*vt.s  ami  llivhilitU'H  iii  dctiiil,  iitul  acortiilfiito 
jiworii  to  l»y  till'  pr.'Hi«U-iit  ami  wcrftiiry  or  lik«  otllcorH,  notiitiK  forth 
tlmt  it  liiis  piiiil  iimi  liuHtlii!  iiliilily  to  pivy  itd  pnlii!i«»  or  fiTtillraton  to 
tin-  full  liiniL  iiuiiiihI  thcr.'in,  n  (■('rtilii'iitn  from  ilu-  liiHiiruiicn  CommiH- 
Mioiior  or  from  ii  jii<l>f«i  or  dork  of  ii  court  of  n'covd  of  it»»  homo  StHt<t, 
cnrtifyinj^  tlmt  corponitioiiH  or  HHH(M'iatioii«  insuriiiK  livfBoii  tliu  hwhi'm 
mi'iit'pliiii,  1111(1  piiyiiiK  policioH  in  full,  or  providiiiKocoiiiont,  indemnity, 
and  chiirtdriMl  uiidi-r  lh<i  luws  of  I'tinmiylvania,  an*  UiRally  t'ntitlod  to 
do  l)unin«ss  in  itM  homo  Stato,  a  copy  of  iin  policy  orcortiflcati"  of  mom- 
btM-nliip,  applicatioriH,  and  liylawn,  which  muHt  hIkiw  that  tloath  Iomhcs 
aro,  in  tho  main,  providoil  for  by  asmixHinont  upon  HuryiyinK  mem- 
Ixirs,  and  it  nhail  loyally  ilt'sixnattt  a  porson  or  a^ont  roBiding  in  tlUH 
State  to  riM'civo  Horvico  of  procosH  for  Haul  company,  or  in  default  of 
Buch  df'Minnation,  Morvicc  of  pro(!osn  may  Im  made  upon  iho  InHuranoo 
CominiHsioiiur  of  thia  Htate,  who  Hhall  bo  doiMiiod  its  attornoy  for  that 
pur|)os«. 

Amnnif  Stati'luviltH.  —  Annual  HtatonKMits  iiiuHt  bo  mado  to 
tho  InHurancoCominissioncr,  under  oath,  before  tho  (irst  day  of  March, 
of  each  year,  a  Htateineiil  mich  m  in  rocpiirod  from  like  companien  oi  • 
gaiii/.ed  "within  this  Stato,  and  answer  such  interrogatorioHaH  tho  Insur- 
ance  CommiHsioner,  who  shall  fiirniHli  a  blank  for  tho  purpose,  may 
make,  in  order  to  ascertain  its*  financial  character  an<l  condition.  In 
the  ev(>nt  of  its  failure  to  make  such  statoment,  on  or  boforo  tho  lirHt 
day  of  March  of  each  year,  tho  C^ommirtsionor  shall  revoke  its  license, 
and  thereafter,  until  such  statemont  is  made,  it  will  bo  deemed  to  be 
doing  business  unlawfully  in  this  State. 

fi'^ti, For  filinK  each  annual  statemont,  twenty  dollars. 

For  license  to  do  business,  twenty-flve  dollars  annually. 

PenaltlcH.  —  Any  officer,  agent,  or  cmployeo  doing  business  for 
a  company  which  has  not  complied  with  the  law  is  deemed  guilty  of  a 
tiiisdomeanor,  and  shall  bo  subject  on  conviction  to  a  fine  of  not  more 
than  five  hundred  dollars  and  imprisonment  not  more  than  ninety 
days. 

Fraternal  societies  are  not  subject  to  this  law. 


r  Stoft'H  mimf  ilo- 
py  (tf  itH  cliiirirr 

liiiHiru'MM  fur  till- 
ly  or  liko  <ifll<Trs, 
coihf,  tlw'uinoiirit 
I,  iiixl  acurtilli-ntc 
orM,  tottinK  forth 

or  ciTtillratcM  lo 
iHiiratictt  CniniiiiM- 
)f  ifn  homo  Stiitt!, 
ivi>H(>n  tho  aMH<>HN 
•iilont,  indemnity, 
ogaily  »'ntitlo<l  to 
ortillfati"  of  mem- 
that  (ionth  Iohhch 

Hurvivin^c  m«'in- 
;  roHitiing  in  thi^ 
,  or  ill  ilt'fituk  of 
un  tho  lr>Hiiraii(-(> 

altoriioy  for  that 

!i  muHt  hu  mailo  to 
IrHt  (lay  of  March, 
kit  companioH  oi  • 
;orioH  aH  thti  Insur- 
tho  [iiirposo,  may 
11(1  condition.  In 
)r  boforo  tho  (irrtt 
rovokt)  its  license, 
bu  deumud  to  be 


ity  dollars, 
iiually. 

doing  business  for 
loemod  guilty  of  a 
a  fine  of  not  more 
Hioro  than  ninety 


RHODE    ISLAND. 

,11  ,      /„.rni;ice   C'o"»mM<l'<n«r,   I'liOVIPKNCK. 

WlllUM  C.   lowNHKNU,  InK'-rinite  uo. »    •-  i 

.  .  "/      ;    ..         Kvurv  cunn-any  du-Miiing  to  lnin.tt.a  buiinen-  tu 

A  corlillrd  copy  of  it«  '•»'''''-"'";        ,       ,       rc^id.'i.t  and  M.-cn-taryof 

the  company,  nhowmg  t  u,  -""     "       '    J^'      ;„  <\.,..,n.HMon..r  of  ti.i. 
Kvery  rotnpuny  Hhall  '|H;';  ';.';,,"'  .,v,c..  of  l>ron..H  againnt 

:rs,:;'ff,  ;"S,;r:::y3.:ir:.:.i:  .u:Vj^...u  »..„ ! ■ 

miHMioiier.  ,   .     1    i..,ain..iui  In  the  State  mIihU   tnakf  con- 

,j:';;ri::i:'oV:i-S'"-'""y''' • '"-••■" 

airDiUH.  .  .    „ 

,     i...,,.f-  -  Kvery  agent  iM-foin  tran'^ncting 

„,„bU.l.  .  l.ra..oK  »«"'",?; .''' '',;[,|'r;,,  l,,y  MmmuT  in  ™B<'M»t.n«  c;.„. 
U,;,;  o^fmsurance  or  -;"«"-nc«.  o  '1-  b'  -^,f' ..^  ,,„„,  ,„;; 
„,Burance  or  ro-.nHurance  ;>  '  ^  ^;;*^  l^ance  compat.y  tu.t  iticor- 
receiving  compenHat.ot,  ^''""^'^ ''  ,  "  "^7j;"atul  vvi...  is  accountable  to 
poratod  under  t-  -J  -r,  ^^^^^J^l^^Lu^  for  proudutns 
any  agent  m  this  htate  01  amu  a  «iil)-airent.     No  person 

reJeivSd.  shall  be  known  and  dem^na    da    a^^^u^^  i„eoril.rated 

shall  act  as  a  sub-agent  o/.'^'J  '  "7;,"';  la  procured  from  the  In- 
under  tho  authority  of  thm  ,':'.'\"'  '  ^''  ",!  fy  1 1,,  act,  for  which  he 
Burance  Commissioner  a  ^^^^'j";  '^'\\^;"^,'';7  ,^o^^ute.  S>.ch  certiticato 
shall  pay  two  J'^^lr^'^u;tVtl.e  tirrday  .1-  Ja.uiary  next  after  the 
shall  continue  t..  ^f ''«  "^'^ir'/e  tie  person  ..amed  therein  to  negotiate 
date  thereof,  and  shall  author  /eUuer  ^^  ^^_^^  j^^^ 

contracts  of  ---^^.^  ^.^rrS  u.^        tho  aiShority  of  this  State, 
insurance  company  nt.c^po^:at.u  ^^^^^^^^^^^^  ^^^^^   age.it  has. 

romplied^ith  all  tllie  other  requirements  of  law. 

Fire  and  ilfar/ne.- Every  company  shall  possess  a  capital 
of  one  hundred  thousand  doUerB. 


)\n 


lUKMiK    IHIiANi) 


Kvnry  tiro  riirti|«ny  mIiiiII  IIIi<  itit  ikiiimitl  NtntMiiiciit  tmtUo  tint  ility 
of  Jitnuiiry  in  tmvh  yi'ur,  or  witli'ri  thirty  <lay»»  »lii'r<'iifti>r,  Nlniwiiig  iIh 
buaiiiim*  nnd  it*  tixKct  coiuliiiun  mi  ilx*  prvcudtiig  Uliit  liny  u( 
IXicombor. 

Kvnry  tnaniin  rummtiy  mIiaII  flln  lt«  Hntuwl  utatfltiiftit  on  tlm  Urn* 
<lfty  of  .liiniittry  of  i<iuli  yenr.  or  within  ihiity  liayo  tlmiouftfr,  nhi  wing 
Um  htmiiii'MM  itml  cotuliiioti  on  Ihn  pr  ftxlin^  lllKtiUyof  ll«<*i>ri>)i<>r. 
Th«»  CoininixHioniT  whitll  tmimiilly  in  thi«  iiioinh  of  Kobniiuy  puhlinh 
in  |)iiin|)hl<>t  form  an  uhxtnict  of  thn  MhitiumtntM  lllu<i  in  hi"  oillou;  thu 
iiX|M<iiMii  thiTuof  to  Ih>  pHi'l  liy  t\w  compttiiii'M. 

/i//V'.  —  Kvi'ry  coinpuny  tiiiiHt  po<«Mi>HN  oiii>  hiitKlnni  thoiiNiiiui  ijol 
itti'M  III  f(ooii  uinl  Hufi)  Htorlc^  or  >«'(niritir>M,  utnl  dcpoHit  thti  Mitiiic  with 
thu  Auditor,  (.'otiiptrollnr,  or  chinf  liiiuiii'inl  of1i<;i<i  of  tho  Stiilo  liy 
whoMtt  inwM  thi)  (-onipiiny  Im  incorpomtt'd,  itiid  fiiriiiHh  tho  ^onornl 
TrtnMiirnr  witti  tli-.tcortificiito  of  miicIi  ofliicr,  iiiidfr  iim  hand  and  olllciKl 
Muai,  Mhowin^  tiint  hi*  holdx  Miich  nIocIch  and  Hi'curitit'H  m  trtiKt  and  on 
depoHit  for  tho  (x'nclit  of  all  tho  policy  iioMorH  of  niicIi  (Company,  Kiving 
tbo  ititiiiH  of  Hiich  Huciiritius,  uiid  Htatin)^  that  In*  in  HuliMJiod  tliut  hiicIi 
■uCUritiuH  nru  worth  one  hundrod  thoiiNiind  dollarM. 

Annual  Htatoini'iilH  Bhuil  bo  litod  on  lint  liiMt  day  of  January  in  ttiicli 
year,  or  within  thirty  dayii  tht«r<>aft<-r,  hIiowmi^  th*t  litmint'HH  and  tho 
exact  condition  of  tluMoinpany  on  thn  priTtMlin^  ;tlst  day  of  Dt'ctf-inhiT 

TliH  iigontH  of  Nuch  company  Hhall  publisli  an  abntrnct,  to  b« 
approved  by  thn  Iimuraiuu)  ('oinmisHioncr,  of  itH  stateinitnt  in  hoiiio 
nowHpaper  printed  in  the  county  in  which  ho  Iihh  lim  place  of  buHineaM, 
once  a  wo<tk  for  threo  weeks  succoHsivoly  in  the  month  of  March. 

JPvvH, —  Upon  tlio  deponit  of  charter  and  preliminary  Htat'-nifnt, 
there  Hhall  be  paid  the  hiiiii  of  thirty  dollui-H  fur  tiling  charter,  and 
twenty  dollars  for  lilin^  Mtateinent. 

Kor  iiliuK  anniiul  statement,  twenty  dollarH. 

For  certificate  to  agent,  two  dolIaiH. 

For  copy  of  service  of  proccHS,  two  dollarH. 

For  examination  of  companioa,  t'      ict  id  oxpeuBOb  incurred. 

Kociprocal  proviHion. 

Taj'VH,  —  Every  agent  shal'  '  r"  '•  t^'  month  of  January  in 
oacli  year,  make  returiiH  to  the  general  TroaRurer  of  the  amount 
insured  or  procured  to  bo  iimured  by  him  in  this  State  during  the  year 
preceding  and  of  the  amount  of  premiums  received  and  assessmcnta 
collected  during  the  same  period,  and  shall  at  the  same  time  pay  to 
the  general  Treasurer  a  tax  of  two  per  cent,  on  the  amount  of  such 
premiums  and  assessments. 

Reciprocal  provision. 

I^eualfh'H.  — Every  person  acting  as  agent  for  any  company 
W'.thin  this  Htate  resfiecting  the  issue  of  any  policy  of  insurance,  when 
Buch  company  has  not  complied  with  the  requirements  of  law,  sliall  bo 
fined  not  less  than  three  hundred  dollars,  nor  more  than  one  thousand 
dollars. 

Any  agent  of  any  company  doing  business  without  complying  with 
the  requirements  of  law  shall  be  fined  one  thousand  dollars. 


HOIITII  CAlUiUlNA. 


m 


it  DM  tlH«  flnt  liny 
ftt-r,  Nhdwiiijif  iN 
ing   lllHt   liny   of 

iini'iit  on  till)  (hn* 

DIOuftlT,  mIii  U  l|lg 

l»y  o(  Ih'OtTiidi'r. 

Kv'bniniy  puhliitli 

in  hi"  oiiicu;  tliu 

'ihI  thoiiMaiul  ilul- 

4lt    tlltl  MUtlH'   Willi 

of  thi!  SlHl.)  liy 
iiihIi    tilt'   ^oiiornl 

liaml  iiiid  olllcifti 
<H  III  tniMt,  iiml  on 

ooiii|iiiny,  Kiving 
iiliHlUid  that  Hiich 

r  Juiiiiury  ill  oncli 
IxiHJiii'SN  aiKJ  tliu 
lay  of  i)('(!»'iiilM'r. 
ul)Mlriict,  to  bo 
itoiiicnt  in  Hoinu 
|ilu('o  (if  buHJiieiiH, 
li  of  March. 

linary  Htat'^m^nt, 
ling  churtcr,  and 


B  incurred. 


1  of  January  in 
of  tho  amount 
)  during  tho  year 
and  HSBtiflsincnts 
laino  tiino  pay  to 
I  amount  uf  such 


or  any  company 

insurance,  when 

s  of  law,  shall  bo 

lan  one  thousand 

t  complying  with 
oUars. 


dullttr». 

ANaCMMMKNT    IN*UHAN<r.. 

t.lu.UMhn,  -A«  a  .-ondition    ,.r..n.,|,...t   to  dofflg  hy^n\mm, 

and  for  tilt.  J''^'''''''''''<i>r'  ,!    ''  ^  ,,.rtiil.a.,.  and  a|.i.li.Hti..n,  whi.-li 
lUpolidim;  acony  .)(  111.  I'""*  y '",",' '".^   ..--.Ji  ...iifH,  ..vid.-..r« 

Annual  StatvnivntH  .nu«t  bo  .nado  In  th«  month  of  January 
for  tho  yi'ur  ♦ending  D.-cuiilwr  :»Ut. 

|,V,.H.-Th-  aa.no  foe.  are  .harg.ul  a.  for  other  inm.ranco 
cotnpaniua. 

f»  ..w.///..-  -  Atrents  ar.<  Kubjnct  to  line  of  one  thounand  dollar« 
for  noXVnpUance  irth'the  law.  or  for  Holie.ting  for  unauthorised 

"°X' Uw  does  not  apply  to  aucret  or  b..novol«nt  -ociotiot. 


SOUTH  CAROLINA. 

(LfntfUluru  meeti  •nim»llylnNov«inber.l 

T    S    Vehnkh,  ComplroUer-Gcueral,  W.nt.ikov  W.luams.  Chief  Clerk 

in   Charge  of  Insurance  Department,  Columbia. 

A ,ln, iHHion.- Every  corai.any  desiring  to  transaet  business  in 
this  iu!o!t fire  adniission' must  illo  with  the  Con.ptrolleM.ene.al- 

^:«uT^.;^'S.^S'of  the  president  or  secretary  of  the 
con W  Bholrtho  capitaU  l-bihties  of  the  com- 

P^"^A  rSeStpTol  ^\X'::^^^on  of  the  trustees  or  direc 
vocable  until  another  is  made. 


IIH 


HOITTII    CAROLINA. 


Crrti/ltaft's  omf  .lffcnfs,—  \t  hUhW  not  l.f  liiwful  lor  any 
insuruiicc  coniiuiiiy  n-'t  incoi  iiomtcMl  under  tin'  laws  ol'  this  Stato.  or 
any  ayent  of  such  conijiany,  to  tiikc  risk  *  or  tiansact  any  liiihint!;.s  of 
ii.stiranc*'  in  lliis  State  without.  Iir>t  obtaining  a  licci'.x!  from  the  ( 'onii'- 
irollcrCJi'Ui'ral,  whicli  liconso  sluili  servn  tliroui-riiout  tlio  Stuto,  ami 
autlioriw  sucli  company,  or  agents  Hicrcof,  to  fake  risks  or  transai.'t 
any  husincss  of  insurance'  in  cacli  ami  every  county  (jf  tiiis  Stall-,  and 
t.he  sume  shall  lie  i^ranted  so  as  to  expire  on  ihelilst  of  Man-h  of 
oacli  year;  .'•aid  license  si. all  f;ive  the  company  the  power  and  authority 
to  ajspoint  any  numlior  of  a>.ceiit8  to  take  such  ripks,  or  transact  any 
husinc'ss  of  insurnnco,  in  eacli  and  every  county  of  th.e  State;  /iroritln/, 
the  ("ompti'oller-tJeneral  is  notilied  of  such  ap[i(>iiitment  before  the  said 
a^?ents  take  any  risks  or  tran>act  any  l)usim-,s  as  aforesaid,  ^^ivin^?  the 
post-ollice  address,  residenc*!,  and  a  certitiod  copy  of  tlie  resolution 
appointing  oach  a^;<!nt.  or  ap'nts,  duly  signed  by  the  presid'snt  and 
secretary  of  sucii  company. 

Any  person  who  shaJl  transact  any  1>usine,sa  of  insurance  in  this 
State  for  any  company  of  the  United  .-states  or  foreign  state,  not  in- 
cor])orated  by  the  laws  of  tills  State,  without  having  first  obtained 
liconso  by  law  required,  or  after  liis  license?  has  been  witlidrawn,  or 
shall  in  any  way  violate  the  foregoing  provisions  in  relation  to  licenses 
of  insurance  conipanies  or  agents  thereof,  shall,  upon  conviction  in  any 
court  of  comjietcni  jurisdiction,  bc^  lined  for  every  such  olTensc-  not 
more  than  one  hundred  dollars. 

Licenses  are  not  transferable. 

Z'V/v,  Mtwhfv,  tniff  Lff*', —  A ni.ual  statements  must  be  filed 
with  the  C'omptroller-(jcneral,  and  jmblLshed. 

Life  companies  that  shall  receive  premiums  on  any  policy  for  two 
years  shall  lie  deciined  to  have  waived  any  right  to  tlispute  tlit!  truth 
of  the  application  for  insurance,  and  the  application  shall  be  taken  to 
be  true.  Sucli  companies  are  authorizeil  at  any  time  within  two  years 
to  api^ly  to  vacate  any  policy  on  the  ground  of  falsity  of  representa- 
tions in  the  application. 

Ft'CH, —  For  every  license  or  certificate  issued  to  any  company, 
fifty  dollars. 

TaXi'H, —  Each  agent  shall  annually,  between  the  lirst  of  May  and 
the  twentieth  of  Jmie,  return  to  the  x\uditor  of  the  county  in  which 
such  agency  is  located  a  sworn  statoinent  of  the  gross  receipts  of  such 
agency  for  the  year  ending  on  the  .31st  day  of  December  in  each  year, 
togetlicr  with  all  the  value  of  any  personal  property  of  any  company 
situated  at  said  agency,  and  shall  be  ciiarged  with  ta.xes  on  the  amount 
so  returned  at  the  place  of  said  agency.  Agents  are  personally  re- 
sponsible for  this  tax. 

Columbia  imposes  a  license  tax  of  fifty  dollars  for  the  first  thou- 
sand dollars  in  premiums  and  thirty  dollars  for  each  additional  thou- 
sand. 

Penulties, —  P^very  poreon  or  corporation  violating  any  of  the 
provisions  of  law  relating  to  insuranc^e  shall  be  subject  to  a  penalty  of 
not  less  than  one  hundred  dollars  nor  more  than  five  hundred  doUarc 
for  each  offense. 


TENNESSKB. 


iia 


■  lawful  lor  iiiiy 
)!'  this  Stiito,  or 
any  liMsiii<!;.s  nf 
:  from  the  ( 'uiiip- 
;-  tlio  Stiiti!,  mid 
isks  or  transact 
i'  I  Ills  Slutr.  mill 
I  si  of  Miin-h  of 
Mil' and  luUiiorily 
or  transact  any 
Htiitc;  /trovidci/, 
t  Ixifoi'i!  the  said 
I'Siiid,  ^ivin>?  tlit! 
f  till!  rosuliUitin 
i(  ]iri;sid«!nt  and 

isiirancH  in  this 
gn  state,  nol  in- 
g  first  ohtainod 
1  witlulrawn,  or 
ilation  to  liconses 
;onvi(;tiou  in  any 
iucii  olTenso  not 


jnts  must  bo  filed 

y  policy  for  two 
isputi-  th(!  truth 
ihall  be  taken  to 
within  two  years 
y  of  representa- 

o  any  company, 

t  first  of  May  and 
:;ounty  in  whicli 
receipts  of  such 
ber  in  each  year, 
of  any  company 
es  on  the  amount 
e  personally  re- 

)r  the  first  thou- 
additional  thou- 

ating  any  of  the 
t  to  a  penalty  of 
hundred  doilarc 


ASrtEBSMKNT    INKUKANCB. 

A,,oss,nen.  companies  must  coinply  -l^lj^  l^^^^l^^^^SteJ^S 
application  must  con,..n  a  -f ''-\,:;^y,;:  ,  :E  for  the  pre- 

,,,1,,  of  '-=-J-;';r;;;;i:!'\i.  13  secretary,  or  like  oflicevs^ 
ceding  year,  swoin  to  l'>/''I  l';,ij,,,j.,  ^,1,1  inc.)nie,  the  amount 
.howinK».leta.ledacc<^.^^    Uk^-     -^^^^^ 

of  insurance  m  fone  its,  abscts  a"*^    »  y^      ^y         g,.tti„g  forth 

sworn  to  by  the  l'>7;'-'^".';;^  •  ^^ t^;J'  i'p..licies  oi  certificates  to 
that  it  has  paid,  and  has  the  '^'"  J  ''"  ^  '/fron  the  Insurance  Commis- 
the  full  limit  named  therein;  '^^.'^^'^^  V  .record  of  its  h.mio  .State, 
sioner,  or  a  judKo  or  a  clerk  ot  ';-  <;";;.";„,•    ;,',:  1  ves  or  property 

certifying  that  -^7'-;;;:'".d 'tS^r  -  i-  '»  ^'l^'  ^  ^^''"''''^ 
on  the  assessnii'nt  plan  '\"*i.  '"J"*',,, L  the  laws  of  this  Slate,  are 
accident  indemnity  ami  l^''^^^^''^^'  '"'  'Vs'n,  ?.  a  copy  of  its  poli.-y 
Lgaliy  entitled  to  '1^' \'"«";':^^  '  Vnl  JS^  ^vhich  must 

^L^SiraS  ^sSt^dSro;S?o  :;::ui.  :cddeL  ar.:  m  the  main. 
tZi£^^ii~..  ^^:^^:SjCX.n  authorised 
After  any  such  ^"'"^''^.r  .^  J^krannu^^^  to  the  Comptroller- 
to  do  business  in  this  State  ^.f ''^';,'^',^^,'J'7  M^^ch  of  each  year,  a 
General,  under  oath,  before  \1'«J  ^fj^^'fy,  °;^nee  department  of  the 
,tate,nent  such  as  is  ''''•1^'^^;^.  ^''^^  "^S  the  Comptroller- 
home  State,  and  answer  such  "Jj^^P^^^p^,,,,,,^,,  character  and 
Genera?,  may  make  in  order  "  «^f  "^  ^  '^^  ,  .^.^p.^y  or  associa- 
condition;  and  in  the  event  of  lae  f.  Im^^^^^^^  I      y^^  ^^^^^^^  ^^ 

tion  to  make  suc^i  ^^^^/'"{r!. Vonll       all     evoke  its  authority   and 


TENNESSEE. 

[Le«iBlaU.re  meets  blenuiuUy.    Next  «e»B>on.  January,  1891.) 
M.   V\   House,   Insurance  Commissiomr,  Nashviij.k. 
«,/»i;ss/oi»  -Every  company  desiring  to  transact  business  in 
this'stat    Core  u'ln,^  with  the  C^omm.ssioner  _ 

^'^^^raS:d  ::py.of  its  f^^^^:i^^:^'tu.,  pvoced. 

J\SSS  t^^^  Z:^^^^^  -etar,  or  oUier 

president  and  --^^l;^^^^^^^^^ 
hfe  companitsand  the  l"«'i':^"'^\X"  ^  for  and  in  behalf  of  the  com- 
panies to  acknowledge  service  of  P'°^^^^  Jf  ","  ^^e  Secretary  of  State 
Jany,  and  consenting  that  service  of  1^  "' ^^  "'^^'^^^Xu  be  taken  and 
or  insurance  Commissioner,  as  the  taso  may  o..,  su 


il^ 


t1 


m 


120 


TENNESSEE. 


hold  as  valid  tin  if  Hcrved  upon  the  company,  and  waiving  all  claim  of 
I'lTor  by  reason  of  such  service. 

CrrfiprofrM  tnift  Af/rnts.  —  Every  company  shall  rortify  to 
tli(^  (.'nmiiiisHidiier  the  names  of  all  ajjents  appointed  in  this  Statu,  and 
the  C'()nimisHionor  shall  issuo  a  certilicato  of  authority  to  such  agents, 
authorizing  them  to  transact  l)usineHS  for  sudi  company.  Every  life 
insunnice  company  shall  procure  a  license  from  the  Insurance 
Commissioner. 

All  certificates  and  licenses  shall  he  renewed  annually  in  January. 

Agents  of  all  companies,  exc<'pt  life,  sliall  deposit  acoi)y  of  the  cer- 
tificate of  authority,  duly  certilied,  with  the  clerk  of  the  county  in 
which  the  oflico  of  th*;  agent  is  located. 

It  shall  not  he  lawful  for  any  person  or  persons  to  act  as  agent,  or 
solicit  risks,  or  in  any  way,  directly  or  indirectly,  to  transact  the  busi- 
ness of  insurance  without  first  olitaining  a  certilicato  of  authority  from 
the  ('ommissioner,  and  depositing  a  certified  copy  of  such  license  in 
the  ofiice  of  the  clerk  of  the  county  in  which  the  ofBco  or  place  of 
business  of  such  agent  or  agents  may  1)0  ostalMished. 

The  Insurance  Commissioner  is  autliorized  to  issue  to  any  diily 
authorized  agent  of  the  Statt>,  in  consideration  of  the  yearly  payment 
of  fifty  dollars,  in  counties  of  fifty  thousand  population,  or  more,  and 
twenty-five  dollars  in  counties  of  less  population,  fee  to  the  Commis- 
sioner, a  license  which  shall  hv.  renewed  annually  on  the  first  of  Janu- 
ary each  year,  and  subject  to  revocation  at  any  time,  permitting  the 
person  or  firm  named  in  said  license  to  act  f.3  agent  or  agents,  and  pro- 
cure policies  of  fire  insurance  for  themselves  or  others  on  property  in 
this  Staie  in  coinj)anies  which  have  not  complied  with  the  laws  of  the 
State;  hut  before  any  pi^rson,  or  firm,  shall  act  as  agent  or  agents, 
under  or  i)y  virtue  of  said  license,  and  procure  policies  in  said  com- 
panies, he  or  they  shall  execute  an  aflidavit  in  duplicate,  one  of  whidi 
shall  be  filed  with  the  insurance  department,  and  the  other  in  the 
county  court  clerk's  ofiice  of  the  county  in  which  tlie  property  pro- 
posed to  bo  insured  is  located,  setting  forth  that  the  person  or  corpora- 
tion desiring  insurance;  is  unable  to  procure  the  amount  of  insurance 
requireii  to  protect  the  said  property  owned  or  controlled  by  the  said 
per.son,  firm,  or  corporation,  from  the  insurance  companies  duly  author, 
ized  to  transact  business  in  this  State.  The  agent  or  agents  who,  by 
virtue  of  .sai<i  license  shall  place  any  such  insurance  or  procure  policies 
in  any  such  unrepresented  companies,  .sliall  keep  a  separate  account 
thonsof,  open  at  all  times  to  the  inspection  of  the  Superintendent  or 
Commissioner  of  insurance,  showing  (1)  the  exact  amoun.;  of  such 
insurance  placed  for  any  person,  firm,  or  corporation  ;  (2)  gross  pre- 
miums charged  thereon;  (.1)  in  what  company  or  companies;  (4)  the  date 
of  the  policy,  atid  (.'))  the  term  thereof.  Each  person  or  firm  receiving 
such  licen.se  shall  before  transacting  business,  as  horein  authorized, 
execute  and  deliver  to  the  Insurance  Commissioner  a  bond  to  the  State 
in  the  penal  sum  of  one  thousand  dollars,  with  such  sureties  as  the 
Commissioner  shall  approve,  with  a  condition  that  said  agent  will 
faithfully  comply  with  all  the  requirements  of  this  act,  and  will  pay 
to  the  said  Commissioner  in  January  and  July  of  each  year  the  sum 
of  two  dollars  and  fifty  cents  upon  the  hundred  dollars,  and  at  that 


TENNKSSKK. 


121 


iving  all  claim  of 

ly  shnll  cortify  fo 
in  this  Statu,  iiiid 
y  to  sucli  agents, 
lany.  Every  life 
the    Insiiraiico 

nally  in  January, 
icopy  of  the  cer- 
)f  the  county  in 

>  act  as  ag«;nt,  or 
ransact  the  busi- 
)f  authority  from 
sucli  license  in 
ifBco  or  place  of 

sue  to  any  chily 
3  yearly  payment 
on,  or  more,  and 
a  to  the  Com  mis- 
he  first  of  Janu- 
\  permitting  the 

•  agents,  and  pro- 
rs  on  property  in 
1  the  laws  of  the 
igent  or  agents, 
ics  in  said  com- 
te,  one  of  which 
ho  other  in  the 
lie  property  pro- 
)rson  or  corpora- 
iint  of  insurance 
ollod  by  the  said 
nies  duly  author. 

•  agents  who,  by 
procure  policies 

H^parato  account 
iperintendent  or 
aniouni;  of  such 
I  ;  (2)  gross  pre- 
iiies;  (4)  thedata 
sr  Hrm  receiving 
*rein  authorized, 
wnd  to  the  State 
1  sureties  as  the 
said  agent  will 
!^t,  and  will  pay 
zh  year  the  sum 
liars,  and  at  that 


ra.  upon  the  amount  <^{  f'Z^:^::^:^^ P^^^^^^^^^ 
„p.,n  all  polices  I'r'"-"red  ».y  such  a^^^ei  ^,^^.^^  |    ^^^^^  ^^„  ^.^^, 

.nonths  P>'>-.«\'''"^.^«*^^;*,^;"^l;i.,  n«  .in  State  on  property  locate. 

Hurance  policies  issue.   \"/«"'''  "  "    '    'k,,!  ,vith  the  re.iuir.-ni.'nts  of 
,„.r..in  by  companies  that  I'^ve      't    ..mp        ^   t         ^^^^^  l  ^^  .^^^  _^_^^j  ^^ 

;|:\S:^t  irSi"-: -ept  -h  as  ....  .oen  procured  in  the 
manner  ef  this  act  provided.  .  ^^^^^^^^^.^ 

sioner.  when.-ver  1..^  shall  .Uxm  -M'  -        f  if  j^  ,u,ui 

affairs  of  any  ^'onipat.y  transacUng      -sm^^^^^^^^  ,^,^  i„ 

app..Hr  fr.,m  such  '.'^'^''^''^  !^"  ^'  j^i  -r  sha  1  nw.)ke  all  autlu.rity  to 
an  unsoun.l  cndilu,...  "^"  ^'"'""  f^  X..'"'  i„  this  State,  an.l  cause  a 
Zi;£S:^:^T.X;J^^^:^^^-  three  times  ,n  some  n.,ws. 

^-^;;r'u^rc:;;r;:;y^ 

^r^S::Zi^r.y  .  m  an  -oun.l  ccmd.i.m^iMt  ;^;^n-  l^^ 
S:S^,'=Pinti.:— '^ei^^  -I-  as  re,ui.d  by 

'''*■  ,r      ,  TTverv  company  must  possess  at  least 

Fire  and  ^ff'K^'''::~„2  rZvToi  which  one  bundred 
two  hundred  thousaii.  ^•"'l'^'-;; J»\ l^^';;  state  bonds,  or  bon.ls  of 
thousan.l  .lollars  ^  •"^^'^^^^''^f  ,  "  '  S  s^curili.'s  to  b.>  certified  as 
S;iV;hnn^i.'l"rL;^- ^  UL  state  in  which  the  com- 

pany  is  organiml.  ^      .^j^j  j^y  of  December  in 

Annual ^st>Ujn.ei.t^.imst^^l.[^^^^  condition  of 

/.//V.-Every  company  must  );;^^lXS  ::t^  {>y  the 
amof^nf  of  one  hundn-d  tl>ousaiid  d^^^^^^^^^  '  .^  nlr  f^r^iish  the  Lm- 
laws  of  the  State  ^^here  >\;«  "y^^  '^^^^^  ^nicer  of  the  State  where 
missioner  a  certificate  f^«"  ,  ^''"S/of  the  value  of  one  hundred 
Siftllr^r];^  f^rSuHty  of  tl.  policyholders  of 

''^'Zral  siatements  shall  be  filed  on  the  thirty-first  day  of  Decem- 

bertSl  yt.  or  ^^^:^:^:^^.  ,^^ci..  outstanding 
TheCommission..rshaUanuaallyvam^         Stite,  whicb  does  not 
in  every  life  company  doing  /'"^  "f^  "    '.'^1^^  seal  from  the  Commis- 
furnish  him  a  -"-tifif  e  of  valmd  on  um^^^  .^  .^  incorporated, 

sioTier  or  Superintendent  of  tb^  fetate  by  wn 
showing  the  existing  values  of  all  outstanamg  v 
16 


1 


122 


TKNNESSKK. 


All  valuatioiiH  made  by  tho  Commissioner  siiall  bo  upon  tho  basis 
of  tho  Ainuricati  Kxporiomie  Table  of  Mortality,  witli  intorest  at  four 
and  onolinlf  jicr  C(int.  per  annum.  Tlu'  stock,  or  non  participating 
polii'icH  of  such  company  may  bo  viilucd  upon  tho  basis  of  said  i'ablo, 
with  intorost  at  six  per  cent,  per  annum. 

J^^oi'cif/H. —  Kvory  foreign  company  .*<liall  file  with  the  f'ommis- 
sioiicr  a  certilicato  undor  the  hand  and  ollicial  seal  of  tho  chief  linaii- 
cial  oflicer  of  some  other  State,  showin^i:  that  ho  liolds  on  deposit  and 
in  trust  for  the  bent^fil  of  all  the  poiiey-hoidora  of  such  company  in  the 
United  States,  stocks  and  securities  to  the  value  of  two  hundred 
thousand  dollars. 

LhiVHHCH,  —  Reciprocal  provision. 

J'Yrn.  —  Fire  and  Marino. 

For  filing  copy  of  ciharter  or  deed  of  setth'ineiit,  ten  dollars. 

For  (ilinp  annual  stattiinent,  twenty-five  dollars. 

For  filing  additional  or  suppUtmontal  statement,  ton  dollars. 

P(jr  each  certificate  of  authority,  six  dollars. 

F\)r  copies  of  any  paper  on  file,  twenty  cents  per  folio,  and  for 
aflixing  seal  of  ollico  and  certifying  the  same,  ono  dollar. 

For  cost  of  valuation,  not  exceeding  three  cents  on  each  thousand 
dollars  of  insurance  valueil. 

For  making  examinations,  tho  actual  expenses  incurred. 

Lif(^  comi)anie.s  shall  pay  tho  Commissioner  fifty  dollars  for  exam- 
ining and  filing  annual  statement,  and  six  dollars  for  each  certificate 
of  authority. 

Reciprocal  provision. 

Taxes,  —  Each  fire  or  marine  company  shall,  on  tho  thirtieth  day 
of  June  and  December  in  each  year,  report,  undor  the  oatli  of  the 
president  and  secretary,  or  other  chief  officers  of  such  company,  tho 
total  amount  of  premiums  received  in  this  State,  within  the  six  months 
last  preceding,  and  at  the  same  time  sluill  pay  into  tho  State  treasury 
the  sum  of  two  dollars  and  fifty  cents  on  each  ono  hundred  dollars  of 
such  premiums.  Life  companies  shall  make  a  like  return  on  the  first 
days  of  January  and  July,  and  pay  a  tax  of  two  and  one-half  per  cent, 
upon  such  premiums. 

Reciprocal  provision. 

J^cnftfties,  —  Every  agent  doing  business  for  any  company  with- 
out a  certificate  of  authority  from  the  Commissioner,  or  who  continues 
business  when  authority  is  revoked,  shall  bo  subject  to  a  penalty  of 
five  hundred  dollars  for  each  offense. 

Every  company  failing  to  make  returns  and  pay  taxes  as  required 
by  law  shall  forfeit  and  pay  to  tho  State  five  hundred  dollars. 


ASSESSMENT    INSDRANCE. 


Assessment  companies  must  file  a  statement,  verified  by  the  oath 
of  the  president  and  secretary  thereof,  setting  forth  that  such  company 
has  a  mortuary  or  reserve  fund  on  hand  not  less  than  the  maximum 


TRXAS. 


US 


DO  upon  tho  basis 

th  intorest  at  four 

non  participating 

.s'm  oi.  uaiil  i'abio, 


with  tho  Ooinmis- 
f  tiiu  chief  fiiiiiii- 
Ids  on  (lopusit  and 
[;h  company  in  tho 
of   two  hundred 


ten  dollars. 

;oD  dollars. 

per  folio,  and  for 
>llar. 
on  each  thousand 

curred. 

dollars  for  oxani- 
)r  each  certificate 


1  tho  thirtieth  day 
r  the  oath  of  the 
uch  company,  tho 
lin  the  six  months 
he  State  treasury 
lundred  dollars  of 
return  on  the  first 
one-half  per  cent. 


my  company  with- 
,  or  who  continues 
t;t  to  a  penalty  of 

taxes  as  required 
d  dollars. 


trifled  by  the  oath 
;hat  such  company 
!ian  the  maximum 


.,r  largest  policy  or  cortificate  issued  by  ^;;^^  ^ Z';::;  t 

j:sr;:rs;Le:;;:;;rinr:^^  •■ 

-^SK  Sr  Cr:;r er  of   ..3.,;.  a  cenifi;.^coj. 

of  its  charter  or  articles  of  '''7"7"™\'^'  ^^J  /  "  1  s.ion  shuw- 
on  the  first  day  of  January,  a  ^t"^.  "  "V  ,.  •  ..f  i..lic.es  or  .-..rtifi. 
i"«  its  linancial  c.>.htHm^embn.c  „g      e^^  ^  1  ^^^^^,,^^   ^...,,.1 

rates  issue.l  or  "^'***/\'^  "',"•.„'  ■„,,„„,...  „n.l  the  aiu.nints  paid  on 
thereon,  the  losses  or  '^'-'^^h  clauns  .     u m    ,  an^i  ^^  ^^_^^  ^^^  ^^.,, 

the  same,  and  the  t.^;"nn.ss.o.H.r  oi      m   a     .  J      '^       ^  .^,  ..,  ^,,„i,  ,,„ 

dollars  fur  filing  such  report;  a      tie  ^    '^  ^'^^       .^  f,„.  „^,,,  ,,,,t,fi,-,ito 

allowed  to  charge  the  further  ^^^  , ' '  ^  '  ;,  ^  ,  ^,onts  to  d-  husi.i.sH 
or  license  issued  at  tlu.  request  of  th    ton   mnyt<^a^  ^^^_^^^^^  ^^^^^ 

i„  this  State,  and  such  m^-^J^'^^  ^r  mi  e  I  of  such  agent, 
whether  State,  county,  or  munic  p  I,  \;  \'J  \,,i,i^  Hj.pli.ntious,  or 
Any  person,  company,  or  agent,  \v ho  f'''  "'';'. „,i\\,r,,, are  and 
olTer  t.f  issue  policies  or  cert^^ficate.  "^  '•'Xei  ;,  any  o  ganizati<.n 
deliver  policies  or  certificates  m  '^^^  ",'.;,";  """^,^,11  C  deemed 
without  taking  out  license  as  P^ovid  t  t.     •  ^^^^^^^^^^ 

dollars  per  annum,  in  lieu  of  all  "'''«'■  J;*;-^'''-        j^^^s  are  exempt  fr-.m 
Charitable  or  benevolent  associations  or  onars  a. 

this  law. 


TEXAS. 

[LeBi.latnremecU  biennially.    N««.e.«lon,Jun.mry.  1891.1 
L   L   FosTEU,  Insurance   Commissioner,  Austin. 

members.  nrosident  or  vice-president  and  sec- 

„.a^rrLrpS;riwinrrtnaHio„  .jb»,„o.  c .,. 

president  and  secretory,  and  »°'''°"f''yX""ome  person  in  this 
b?»'arrn";\p:n»^^^^^ 

any  duly  appointed  agent  in  this  State. 


r! 


1-24 


TKXAH. 


(U'rtiflratrt*  ami  .If/ri/^w.— Kvory  iiiMiimiico  roiiipiuiy  slnill 
prnciiro  from  ihi- Coniiiii.H.sioticr,  iK^lon;  tiunsncliiig  IxisiiKiss,  a  (N-rtili- 
cuto  of  iiuthui'il y,  wliicli  tilmll  bo  ruiiuwctl  iiiiimully  ut  thu  time  of  llliiig 
th«  unruiiil  Htat(>mt!iit. 

Such  ccfl,ifii!iit<i  hIiiiII  lio  piililiKlicl  lor  llinm  hiku'cshIvo  weeks  in 
two  nt)WS[)iiiit!rrt  printed  iii  tlu?  Slate,  liaviiig  general  circiiliiti(»ii. 
The  lirHt  puijlicatioii  must  be  madi;  witliiu  llurty  day.s  after  isHiie  of 
cortilicatu,  and  uviduiico  of  the  publication  must  be  lilud  with  the 
Commissionor. 

All  ageiitH,  bofons  transacting  busiiKtss  for  any  company  in  this 
State,  shall  procure  I'ronj  the  (.Commissioner  a  cortilicate  of  authority, 
wliich  Hludi  bo  renewed  annually  on  the  lirst  day  of  January,  or  within 
sixty  days  thoroaftor. 

JUxa  HI  i  natioti  H  a  ii  (t  I  m  jut  I  rinrnf  s.—Thi^VomimnHioiwA; 
whou  he  doemsit  expodiont,  may  examine  into  the  condition  and  allairs 
of  any  company  doing  biisinoss  in  this  State,  and  if  he  is  satisfU'd  that 
the  alTairs  of  any  company  are  in  an  unsound  condition  ho  shall  ro' 
voko  the  cortilicate  granted  in  bohulf  of  such  company,  and  publish 
notice  thereof  in  one  or  two  newspaptrrs  published  in  this  State. 

A  fire  or  marine  company  is  in  an  unsound  condition  if,  after 
charging  it  with  a  re-insurance  fund  and  its  projjor  liabilities,  its  cap- 
ital stock  is  impaired  twenty-live  per  cent. 

Five  and  Mtwim', —  Annual  statements  must  be  filed  on  the 
first  day  of  January  or  within  sixty  days  thereafter.  Every  such 
company  must  possess  an  actual  paid-up  capital  of  one  hundred  thou- 
sand dollars,  exclusive  of  any  assets  deposited  in  any  State  or  territory 
for  the  special  bon'>fit  of  the  insured  therein. 

The  re-insurance  fund  shall  be  computed  at  fifty  per  cent,  for  one 
year,  and  pro  rata  for  term  risks  of  all  premiums  on  unexpired  fire 
risks,  and  the  entire  premium  on  unexpired  marine  and  inland  risks. 
If  any  company  fails  tc  pay  any  execution  against  it,  on  a  valid  final 
judgment  in  this  State,  for  thirty  days,  the  certificate  of  tho  company 
shall  be  revoked,  and  it  shall  not  be  permitted  to  transact  further  busi- 
ness in  this  State  until  such  execution  is  paid, 

A  fire  insurance  policy,  on  real  property,  in  case  of  a  total  loss  by 
fire  of  property  insured,  shall  be  held  to  be  a  liquidated  demand  against 
the  company  for  the  full  amount. 

Ijife. —  Every  company  shall  possess  at  least  one  hundred  thousand 
dollars  of  actual  capital  invested  in  stocks,  bonds,  and  mortgages,  or 
other  satisfactory  securities  of  the  market  value  of  at  least  one  hundrtid 
thousand  dollars.  Every  such  company  organized  in  any  foreign 
country  sh;tll  furnish  a  certificate  that  it  has  one  hundred  tliousand 
dollars  on  deposit  with  the  proper  officer  of  some  other  State  of  the 
United  States,  or  shall  make  such  deposit  with  the  Treasurer  of  this 
State. 

Annual  statements  shall  be  filed  on  the  first  day  of  January,  or 
within  sixty  days  thereafter.  If  any  company  fails  to  pay  any  claim 
arising  under  any  policy,  within  the  time  specified  in  such  policy,  it 
shall  in  addition  thereto  pay  not  more  than  twelve  per  cent,  on  the 


TKXAS. 


I 'if. 


■I)  roinpiiiiy  mIiiiII 
iisiiKis.s,  a  (MTtili- 
thu  tiiiio  of  llliiig 

•csHivo  wftiks  ill 
^ritl  circuliilion. 
^.s  iiflt^r  iwHiic  of 
J  llluii   witli   tlie 

cninpiiny  in  this 
lite  of  luithority, 
iiiuary,  or  wiiliin 

It!  (/'oininissioiior, 
(litidii  iiiul  at!uira 
L)  is  Hiitinfit'il  tlitit 
lion  he  ishuli  ro' 
my,  and  publish 
til  is  State, 
lulition  if,  after 
labilities,  itH  cap- 

3t  be  filed  on  the 
Br.  Every  such 
le  humlred  thou- 
")tate  or  territory 

ser  cent,  for  one 
1  unexpired  fire 
nd  inland  risks. 
,  on  a  valid  final 
of  the  company 
sact  further  busi- 

if  a  total  loss  by 
1  demand  against 


undrcd  thousand 
id  mortgages,  or 
east  one  hundred 
in  any  foreign 
indred  tliousand 
her  State  of  the 
Freasurer  of  this 

y  of  January,  or 
to  pay  any  claim 
n  such  policy,  it 
per  cent,  on  the 


,|,„  .-lain,  ,>Buii.»lll..-  '■■•"M""'y-     I    7,\     '/J'"  i,  "  ll...  .■wlili.»lo 

is  paid. 

.  ....,#  T/#  I'CH  —  Kvcry  life  insurance  company  shall 
p.y'!;if'^;:::i"u"<'Lf  £i:Urc.a  „L.»r,,ana  in  ,.vc.y  «o„,.y  ,„ 
which  it  does  business,  tea  dollars.  „^i  tax 

„,  r?ui;ri'i."iir:v:rr;i.;c:'^-i;.!,,,Ly  i„  »„.„ . 
'S'Sur.oriri;«  z!tiJ^'Jz:' .-« • '  -  »«^' 

taxes. 

tWH,-Vu^^  AND  Mah.ne.-  For  liling  certified  copy  of  charter, 

twenty-five  dollars.  in. 

For  filing  annual  statement,  twenty  dollars. 

curreJ,  not  to  excoo.1  two  hnnaroJ  ami  htty  JoUara. 
Reciprocal  provision. 
„         .. ,  „      p»or»  niTson  violalini!  any  ol  tho  provisions  ot  law 

relafnrt--^-^^^^^  ^y  ^  l''"  £-  ''''  ''^"  "'' 

dred  dtuars  nor  more  than  one  thousanu  dollars. 

AB8KB3MKNT    INSURANCE. 

Bv  an  act  of  the  legislature  of  1889,  life  or  health  companies  doing 

s£'''"snrcr;,r='  p=ro„^o'"=c?  S 

OommiBsionorot  the  i^'"'" '"J"l  "  ""  "i^^a  j,  authorized  to  transact 
that  the  compa»y  h«  ^^  V  '^iS  S  °»h  "sets  as  above  stated ; 

^fceS'n^'ZKSS'n  t  rdliJln,  the  ,n..in.u„t  ..nount 

nesTin  thrstate  at  the  discretion  of  the  Commissioner. 
Pees  same  as  for  other  insurance  companies. 


I 


l-'«  UTAH.— \  RUMONT. 


UTAH. 

|l.t){liiltttiiriim«i'l«l)tiniiliilly,    Nfxt  lonloii,  .taniiarx  1, 1MI(),| 
Kluaii  Hki.i,h,  Sicniitn/,  Sait  I,akk  Cirv. 

AtfniisMlott,  —  Kvcry  cninimiiy  miiHt,  lllt<  with  thfi  wicrt'tary  of 

llio  Iciiitury,  Mild  with  the  pn.liutc  ju.l^jo  of  the  ('oiiiity  in  which  its 
|>riii(i|.iil  ollicc  in  the  territory  in  hM'utt«l,  within  sixty  days  iiftor  <'oni- 
MU'ririii^  Ipiisiiicss  — 

A  ('crtillcii  ccipy  of  its  chiirltT  mid  hy-liiwt»,  and  of  iiriy  uiniMid- 
iiu'iits  and  aitonitioiiH  ihorcof.  A  (h'.si>,'nation  of  mouic  person  nmiding 
in  the  ■•oiinty  in  which  its  priiici|);il  oincc  is  locat<'d  in  this  torritory. 
upon  wlioin  Icf^ai  pruccss  may  in'  served. 

Kiich  lire  iiisiiiaii ■ompany  iniHt  have  a  capital   paid-ii|i  of  not 

h'ss  than  two  liiindred  tliousan-i  (icjiiars.  Must,  lile  with  the  Secretary 
u  sworn  Htut»!inont,  giving  tho  naino,  locality,  and  finiinoial  condition 
of  tho  company. 

Annual  SffffcnU'HfM.—  T\\oni.i  mnat  he  made  in  the  month 
of  April,  and  siiall  he  piililisheil  hy  (.nch  company  on  or  hefoic  the 
:)Otli  day  of  April  of  each  year,  at  hast  four  times  in  some  n(!W8paper 
pulilished  in  the  territory  and  having  general  circulation  therein. 

LfvettHt'H,  —  A  liconso  foo,  $2"),  is  roquiriid  to  ho  paid  for  the 
[)rivih!go  of  doing  business  in  Salt  Lak(!  Uity. 

t\'VH.  — To  tho  secretary  — 

l"'or  tiling  Htatemnnts,  live  dollars. 

For  certilicate  of  authority,  live  dollars. 

Por  allixing  cortifuiato  and  seal,  ont»  dollar  and  a  half. 

PrnaltivH.  —  .Any  person  violatitig  any  of  the  provisiom,  of  : 
law  shall  lie  guilty  of  a  niisdonioanor. 


VERMONT. 

ILefjlHlature  mccis  blcnniiilly.    Next  huhsIoii,  IhI  WediiPsday  In  October,  1890,1 
C11AHLK8  \V.  I'oHTKU  and    VV.   {].  Du    Bois,   liisiinuice   ('uiumissiouers, 

MONTI'ELIER. 

All  mission.  —  Every  company  desiring  to  transact  business  in 
this  Statu,  before  admission  shall  file  with  the  Secretary  of  State 

A  C(;rtilied  copy  of  its  charter  and  by-laws. 

A  statement  signed  and  sworn  to  by  the  pnssident  and  secretary 
of  the  company,  showing  its  capital,  assets,  and  liabilities. 

Kvery  such  company,  by  a  written  stipulation  filed  with  tho  Secre- 
tary of  State,  shall  agree  that  all  lawful  process  against  such  company 
may  l)e  served  upon  the  Secretary  of  State  and  shall  have  the  same 
ellect  as  if  served  personally  upon  the  company.     When  process  is 


1 


VKKMnNT. 


\11 


m«>.  I 

I'V. 

hfi  m>(T»'(iiry  <il' 
y  ill  wliicli  its 
•  lays  iiftor  com- 

of  iiiiy  iimi'iid- 

perm  111  iimiiliiig 

this   tnrntufy. 

pitiil-iip  of  Hot 
li  iIh!  Si.'(!r('tiiry 
iiu'ial  ciiiitlition 

i  in  tlio  tiKinth 
or  bdfiiK'  tin- 

<ninr«  IKtWSpilplT 

III  tlii'rcin. 

10  pttiil   for  tliu 


ilf. 
rovisioiiw  of  : 


ctolier,  1890. 1 
Cum  m  issioii  ers, 

iact  biisinoHS  in 
y  of  State  — 

;  and  secretary 

ties. 

with  the  Secro- 

t  such  company 

have  the  sanio 

'hen  process  is 


H.,rv.Mi  on  th..  Secr..t«iy  of  Stut.-  it  .hall  ho  ..;rv-,l  hy  -i-tpH-at..  roi.in., 
3  .1. "opy  Hhall  h..  i,n.««.liululy  lurwanh-d  to  th-  ....npatiy. 

t.'t'tlllrnlvH   niuf    ,|f«'i</H.- Kv.-ry  cimpany  Hl.all,   l"f"r.. 
.,oin;i!.M('  ^^  ol'an;:iu..,..f  fiotn  tl,n  O.nunisHio.......     Such  hc.iHO. 

Hhail  he  r.-i.ew.Hl  ai.nuaily  on  tho  lir«l  day  of   April. 

notko  t..  ill'  1  ■""mi««i..n«».  111.'  fo„,mii»...i,or.  in«,  »u.|»ii.l  tUo  bu..- 
nuan  o(  tlio  fcmilmiiy  in  tliis  Stiito. 

h.  V  H  al    ."voko  the  liconses Vh"»'"1  to  Huch  cn.npany  ...ul  .ts  a^o  .ts 
itfpuhliHh  notice  thereof  in  every  county  in  wh.d,  the  .-otupany  has 

""   No'cotnpany  can  ttansact  husin..HS  in  this  State  if  itH  .-apital  stock 
is  inipaircfi  inoro  than  twenty  per  cent. 

Fh'O  and  MaHnr.-Ym^ry  stock  company  must  have  a  paid- 
u„  cai  tal    f  o"0  hmulred  thousand  dollars   not  le.^s  than  ""-''f  <; 
whu-h  shall  1.0  invested  in  .-ash  securities  other  than  tno.U'.iKes  on  r  a 
Tst  a.  a  u   in  additi.m  to  such  capital  assets  equal  to  its  '"■t"'"''^^^^ 
Ha    lilies  ro-in.-.ran.'e  reckone.l  as  ludow.     Annual  statetuents  shall 
be  i     Ion  or  beforn  the  lirst  day  of  March  in  each  year,  ^I'ow'ng   he 
cm  lition  of  the  comi.anv  the  preceding  iUst  day  of  December.      I  he 
?"    ™c      urul  shall  be  con>Uted  a.  (if.y  per  cent,  of  t  Mm-mu  ns 
on    neKpired  lire  risks  and  the  eiitin-  premium  on  marine  risks      t  on- 
ani  s'm  liabh.  for  the  acts  and  neghvt   of  their  ap-nts,  -s    'c  wee 
uh  companies  and  the  insured.     If  not  tnade  so  by  I'^v^-f  •'';,;      «'* 
of  incorporation,  their  policies  must  contain  a  proviso  to  that  eilect. 

/  ,7V'  -  Every  life  insurance  company  must  possess  not  less  than 
„ne  h  in  Irod  thousan.l  dollars,  and  in  addition  '^«-\V''"ll  wi  1 
HabiliUes.  reserve   reckoiu-d   on   Actuaries'  Tabic  of   Mortality  uith 

•"^7:n;;l/XJ;;;;;rshall  be  med  previous  to  the  first  day  .-f  M.jd. 
in  eacMmr  showing  the  condition  of  the  company  the  preceding  .ilst 

'''^bSrS'S;;  assured  in  any  form  are  prohibited  after  January  1, 
1889. 

TnroH  —  Kvory  insurance  corporation  of  another    State   must 

navTniny  in  the  month  of  February,  and  before  the  tenth  day.  a 

F»x  of  two  per  cent,  upon  all  pre.niums  and  assessments  received  in 

he  "taefoMhe  year  ending  the  tl.irty-f.rst  of  December  preceding, 

deduc?h  g  from  the  gross  premium  re-insurauces  ui  authorised  com- 


! 


\2» 


VIIUUNIA. 


pKiiicM,   ri'tiirn  prnmiiim*  on  cnncoliol  pnlicina,    iinutnd    halkncM  of 
pri'Diiiitn  itoti'M,  iirnl  iliviili'mtit  to  poliry-liolilnm. 
UociprocMil  pr<tvi»«ionii. 

FwH,  —  Kor  liliiiK  annii.'il  flfatniiiriit,  twenty  iloll.-irs. 
K(»r  ('oiiipaiiy'i*  licmmo,  (Ivi-  ilolliir^^. 
F'or  ft^oiit'H  lic«na(>ii,  ono  (lollur, 

Pt'iHlffif'H,  — Any  vinlfttiori  of  iln>  act  ruIiitiriK  to  innuranci'  Ih 

piiiiiMlintilc  liy  a  film  not  i>x(MM<<liti^  two  tli'iiiminil  iloHnrM 

A^t'ntH  tranHuclint^  Iiuhjiiosn  for  miaul lioriismi  uonipanii^H,  ituhjcRt 
to  liiiu  of  n(>t  morn  tliiin  live  lniri(lri<<|  ilollam. 


AHHKHHMKNT    INIII'HANCR, 

Kvory  compftiiy  dosirinj?  to  do  biiMinosH  tniiHt  com|ily  with  flio  lifn 
iii8iiraiii'i)  lawH;  ttxccpt  tliat  mutual  acciilont  eoiupanioH  may  !>«  ailtnit- 
tml  with  aHM<»t,«  or  a  nmiTvo  fiiinl  appiicahle  to  tlic  payiin>tit  of  losuou 
to  thn  amount  of  llfty  tliouMaiul  dollarH, 


VIRGINIA. 

[Lcglilaluro  mrcU  bi«ntil«lly.    Ni^xt  uMiiInn,  Dsrember  4,  \tM.] 
MoHToN  Mayhic,  Auditor  of  I'iMic  Accounts,  RiciiMONn. 

AtflHiMnlon, —  Kvory  company,  )u>foro  tranHactinj?  husinoiw  in 
this  Stat,((,  shall  deposit  witli  tlio  Triiasurcr  l«>ndH  of  tint  Stafo  of 
Viif^inia,  or  hoiids  of  the  llnitiul  St'iti'S,  or  hoinls  of  the  citi»>s  of 
iticliinond,  I'c'oisliurf^,  LyiK^hhurg,  Norfolk,  Alexandria,  or  Danvillo, 
to  till)  iimouiil  of  live  por  centum  of  its  caiiita!  stock  ;  such  deposit  to 
ho  no!  l(!ss  than  ten  thousand  dollars  nor  inoro  than  fifty  thousand 
dollars. 

Such  dc|)osit  shall  he  accompanied  by  a  statomcnt,  under  oath,  of 
the  amount  of  capital  stock  of  such  company. 

Kvery  such  company,  by  a  written  power  of  attorney,  shall  appoint 
Bomo  person,  a  resident  and  citizen  of  this  Htute,  its  aj^ent  or  attorney, 
who  shall  accept,  service  of  all  lawful  proces.s  aj^ainst  such  company  in 
tliis  State,  and  cause  an  appearance  to  be  entered  in  any  action 
against  it. 

In  case  of  the  resignation  or  removal  fron>  tlio  State  of  such  attor- 
ney, until  his  successor  shall  be  appointed,  service  of  process  may  be 
made  on  the  Auditor  of  State  in  the  same  manner  ami  with  the  same 
effect  as  on  such  attorney. 

A  copy  of  such  power  of  attorney  duly  certified  and  authenticated 
shall  be  filed  with  the  Auditor. 

Every  such  ccmipany,  through  its  attorney,  shall  give  bond  to  the 
Auditor  with  two  or  more  8uroti(^s,  in  a  sum  not  loss  than  one  thou- 
sand dollars,  nor  more  than  five  thousand  dollars,  conditioned  to  make 
returns  and  pay  taxes  as  required  by  law. 


WASIIINOTON  TKUUrrnUY. 


tat 


IMxl      (>alklU'ltH    o( 


'AT». 


It  to  iiiHurKiirn  In 
DtiiptttiifH,  Hulijfrt 


iiply  with  flio  lifH 
ii>H  inny  !>«  uiltnit- 
ifiyiiH'tit  of  losmm 


4.  iftw.l 

[llCIIMOMI. 

ctitif?  husinesH  in 
(  of  tint  Statrt  of 
X  of  tlu)  citicH  of 
drill,  or  Diinvillo, 
;  Hucli  iloposit  to 
an  fifty  ttiouHand 

lit,  under  oath,  of 

noy,  Hliall  appoint 

igoiit  or  attorney, 

audi  company  in 

]d  in  any   action 

tate  of  Huch  attor- 
)f  procosH  may  be 
,nd  with  the  same 

und  authenticated 

give  bond  to  the 
88  tiian  one  them- 
iditioned  to  make 


llollur.  .Imil  r .v..  a  l.-o..-'   "         ;«'         J  ..,   .,,„„„i,y.  ,«.for..    th« 

llftoonth  .luy  ..f  J»»'iiuy,     tor  Irttction«( .  y 

,    l/.V.  —  Tbo  Auditor  i-  Hiithori/,.'.!  to 

!;::;;;:V'L:;;:ir;:'':v;,'r,r.':"'.."'' > "■"•  "•■ ■  "•' 

annum.  ,        .      ,  .  ,  ,  ,,_„  ,„|„.r  Sl.ut«  n-fu"*'*  '"  r»'"«>iv« 

If  tlH.  iuHurano.  '''P'^'''"':  ^  K  A  d  tor  of  tho  polinon  of  any 
„,  .„ni..i,.nt  tiM.  vub.nt.o.MnHd.  bv  '  ^  '  ,,  „„„.,  ^„v....  thou  the 
,„„,,„.„y  of  thiH  St.il.-.  d..in»r  buHin.MH  u  ^,^,..,,,,,11  ,,,  hihv 

,,..,.,li./.,u,Kt.uulin«  m  nny  ••■^i;"  ^^    ,  .fj  J  ,  a U  il...  dir.Hion  of  .h« 

h.:r'r!.:;;,t;;r;;:yii::u''^';--^    "" 

'"  "v^ri^utato nt.  «ba.i  bo  'ii.-' ;:^^; '";i.^;;;:;;;^;:;; ::;  !:;;r-.:S;: 

3Ut  day  of   Mund.  in  ^i;  ',£-•;  r^,^  ^U I  be  v.ri.ied  by  .b-  "f 

p,,„V  on  the  Wl  day  of  itn  li«al  V^,'   'J      „„„.„,  ,,,„il  b,  pubbnh.  d  for 

,f  its  prenidont  and  m-rretury.      Su  ''  '    ,',„,.  1  i„   Uud.n.ond.   at  the 

.i.   ,L  in  one  of    'i':";'-^-';::;,         r   ,.d   -H'ri-i-  l'n.vi-...« 

tt;:.7J;,hp..nan.linkinoronth..poh.-y.  „^^  ,„„,,  ,,„ 

,V,  ,....-  Kvery  company  .hall  cert^^  to  ;^«,  A,u^U.r  m  dj  r  tl,^ 

iween  the  lir.t  an.l  >>''^'y'    "^ .  '"/'  '^    i  S  at  •.  a..d  shall  immed.ately 
au.nunt  of  all  pre.nmnm  collq  UhI  '"J^"^'^,^^,         .,,„t.  thereon, 
pay  into  the  treasury  of  tSe  htate  a  tax  i 

Ueciprocal  provision. 

nL'tv:r;:fi;:';;:  u--. '^""'•'' > "■"" '™' 

"""K:;  ';:,;;""..;' "T;-..  n™  „.r  .-,.„..  »  .m.„0,  ,h.ri„g  ...o  en,,-, 
uanco  of  such  failure. 

WASHINGTON    TERRITORY.* 

O    C.  WuiTB,  SvcrHary. 
Iho  mercury  ,.f  tl...  torntcry  »  7''^'"^;,7„',, ,  „,t.,m<,y  »t  it.  princip.1 

■;rj=:i'tut':sry:nr,r:;.  r»ora  ,u  .p,.»i«-" 

with  tUo  secretary.  


M 


•UgUJUttW  of  new  8Ute  MW  In  ••••Ion. 


t.ia 


WKSr    VIIUJINIA, 


I 


Af(<>n'«  I'ltrryiiitr  nti  hiiiliir>M  cnntrnry  to  Ikw  Rri<  Kuil'y  *>f  *  mimln' 
iiKMMioi,  Id  >m>  |)iiniMli)i|  liv  a  ilrii)  nut  «x«.'«>«>(llng  two  hiiiiilri><|  dollan, 
or  \ty  linprtioiiiiii'ht,  or  hutli. 


WEST   VIRGINIA. 

[Laulaliiliir*  m>tl>  l)l«Mitl«lly.    Ni  (t  ••»iliiii,  •icimit  Wiiliu'xtay  In  itMHMjr,  imi.) 

I'athu'k  !•'.  Drrrv,  .V<fi/«  Amlitnr,  C'iiamlehton. 

AtlmlHulon.  —  KM'ty  rdttiimny  ilcniritiK  t"  ♦mtinftct  huMiii«>M  in 
tliiM  Si.iic,  lifluii'  ui|iniHi«iiiii  iiiiMl  tile  witli  tin*  Aiulirnr  — 

A  Htiitt'ini'iit  of  lilt)  coinlitiuii  of  tli)-  i-oinpuiiy,  uii<lur  tliu  ontit  uf  thii 
prusitlt'iit  HI'  MHTrtury. 

A  puwcrof  attornoy  duly  ncknowltt<|^i'(liuiil  AittliiniirHtfd,  appoint, 
injf  noiiic  itrr^oii  residing  in  this  Stub'  to  itc<'i<pt  (tcrvico  of  jumu'ckm  tind 
imtiii'  ill  this  St.itt'  I'cir  mkIi  coiiipmiy,  itiid  conxciitiiiK  that  Nurvicii  of 
iiiiy  |iiiM'c-t  or  iiuiicc  upon  surli  porwon,  or  Ihm  iirci-plom'ti  of  iwrvice, 
(thull  liiivc  III)'  Hiiiiio  t'lT*'(;i  iiH  MtTvictt  on  tli)>  ('oinpnny. 

t'frfi/lrtiftM  intil  Affrntu, —  Kvi-ry  rompany  and  its  ngciitH 
tnii."!  pnicitro  from  tlio  Auditor  it  ctTtifirnttt  of  authority,  und  caunt) 
the  H.inic  to  1m'  piihliHlu'd  in  Monn>  ni'WKpnpcr  of  jr<'nnriil  (•ir<'uliitiofi, 
|iiil>lishi'd  in  this  Stiiti',  and  cnuno  a  copy  of  mu^i  pulilicntioii  to  lio  lilcil 
III  till' nillcc  o|  the  circuit  court  in  cacli  <diinty  whcr**  miid  cutiipuny 
docs  iii.xumnco  hu^incHs,  Such  i-criilicatos  nIiuII  bo  roncwcd  annually, 
and  annually  puhlishud  and  illod  as  aforcHnid. 

I'Jj'fiim'iiufioiiH,  — The  Auditor  Ih  aiithorizwl  to  cxainino  tlui 
alTairs  of  ;iiiy  coiupauy  doin^  'iimincsH  in  iIuh  Statu.  Whenever  it 
hhali  appear  to  liiM  Hatixfnciion  that,  the  utTaim  of  any  hiicIi  company 
an  ill  an  unsound  ciuidilion,  he  .hIi/iII  revoke  the  cerliiicate  of  authority 
^I'iitited  in  liehalf  of  such  company  and  caitne  notili(;atioti  thereof  to  lie 
piililished  iti  some  nowHpftper  of  general  circulation,  puhlislmd  ut  the 
capital  of  thi8  State. 

Firr,  .}f(H'iin',  ami  />//V'.  —  Kvcry  company  must  poHsenH 
at  least  olio  liuudi'ed  thousand  dollars  actual  capital,  investod  in  Hafe 
Hecurities. 

Annual  stutomeiitH  hIuUI  be  filnd  in  tho  month  of  January,  in  each 
year,  .showiiij^  the  condition  and  affairw  of  tho  company  on  tho  prociid- 
\\\)t.  'ilHt  day  of  Decombor. 

I'\'('H, —  l^'cr  filing  and  examination  of  Htatement,  ten  (lolIarH. 
K<jr  each  certificate  of  authority,  five  dollars. 
Reciprocal  provision. 

TtfJ'f'S,  —  Kvery  company  doing  business  in  this  Stato  shall,  at 
tho  time  of  filing  annual  statemtuit.  |)ay  into  tho  Stato  treasury  a  tax  of 
two  per  centum  upon  the  gross  amount  of  promiums  collectud  in  thin 
Stale  during  tho  preceding  year. 


WIS*  ON.**!  S. 


Ul 


guilty  of  h  tnliMln 
I  luiiKlri'il  •lollnr*, 


'  In  lUnntrx.  inni.) 

I.RHTON. 

luiNiict  buMinoM  ill 

for — 

lur  Ihu  until  uf  till) 

I'liticutt'd,  appoint. 

il'O   of     pl'IK'OKH  Jklld 

m  tliut  Mirvicn  of 
'piaiu'o  of  wjrvii'i', 

my  Riicl  itH  nKfiitM 
liority,  uiui  (•uu^»l' 
•ncriil  circuliiiinii, 
pliciitioii  to  Im'  lili'ij 
crt)  siiid  ('(iiiipitiiy 
ruiivwt'd  uniiiialiy, 

ml  to  cxninino  tiu* 
ito.  Whciicvcr  it, 
iiiy  «iii;li  coinpiiiiy 
iliciilc  of  aiitliorily 

lltioll  lIuTCof  to  lie 

1,  publiMliod  at,  tlio 

iiiiiy  immt.  poHHi^fls 
I,  invcslod  in  HJife 

f  Jnnimry,  in  each 
iiiy  oil  tho  procitd  - 

nt,  ten  doilarH. 


fiis  Stato  nhall,  at 
o  tnsasnry  a  tax  of 
8  collected  in  thin 


Kv..ry  lifo  I o«  -n.i-.y  whirl.  ;..jii  in-,  i;.;';^  ^^ ;:;; 

wholn  un.ount  of  ,1^  n-.  " .p  -  f     • '      -  ^/    "- ^ ^  J  ,^  ,n.»M,n/...d   lo 

only  ..I."  l»»l'  "f  -»••»'  ,1"*,      ' '"'      .l>,  Lmi-aM.m.Vllv  .M.oi.  |.r..inmiu 

r..,...|ptp.  in  *«i.l  .'ity.     An.;ni-  •n-  ••;'!    "^^   ,  ''  \  „„„.„.,  und  to  inuk.. 


r.aurn  a..d  i.ay  lo  tl..-  .Hv  Hu.d  tax  '"\  ;.„,„„„  , ,,„.   for  tl... 


.,r  payin...,.  of  lax-H  or  f.-.H  «';•  ^  "''  '  ^  ,  „    ,.,r  n.o,.  .l,un  two 

,  rils..  rHurn,  sl.all  forl.Mt    .y   /T;",,     ',.,;,, y  ulli-vr  or  M«.ni  of  nnv 
,„.„dn.d  dollar-  ''''• '^'^^  ;' ^    ,  k     n'^w  <  r  ....gotial...  in  tl.i.  Sh.t... 

forfoit  fifty  .loUarH  for  ov«ry  hucIi  olT.-nm., 

V      .-..,.,i,f  .•<.•. .i.aiii«»H  iniirtt  appoint  an  nttortu-y ; 

„,„Hi  saiiHty  lla.  Auditor  >'''''        y\  \^^.  „„„,nri/.d  m  do  1,usi....«h  .n 
ov.r  Mxtylivu  yarn  ol  «Kn  H  ut  th  >  ^^^    _^^^,,  ,^,.,.  ^,,,,.  ,., 

u.,  Stat., of  ti-ir  --n;n;  ';•/;;  ■;    ,  ;,.,i\H\.x.' P'  '•"•■  'I'""'  ("^ 

Marcl.  lirHt,  slu.w.nK<-ondit...n  l>.'M.„i..in..    y 


WISCONSIN. 

jCc„..aUro  .eou  M.nnU..,.    Next  ,..to„.  .eco..a  W...n..«.«y  tn  ....... ,«..,, 

Pu.L  CHKF.K,  Jh..  /H.'ura«ce  f,'o».m»./o„eT,  Madihon. 
.      ;              Vvorv  company  <U«iriMK'  to  tran.a.T  Im^inoss  in 
U,.^ffi'.""i^'V>.^rc'SS„  L  wi.U  U,e  1„. »  f «»• 

""TcTrtM  co,,y  01 ...  ch.rU.  or  .W  "'J^r  °vL.p«.lc„..  or 

„u.o'ieS'S'«ri.-r;  oS  .tc'o;,.„.„y...,owinK  u.  .^.i- 

and  condition. 


I 


132 


WISCONSIN. 


A  copy  of  the  last  report,  if  any  maelt',  uiidor  any  law  of  llitt  Statu 
by  wliicli  Mio  coinpfiny  wan  iiicorporatcid. 

Every  .such  cuiii|)iuiv  .shall  appoint  in  writing,  tliu  Cominisaiunor  of 
Insiininoo  or  his  .successors  in  otlico,  an  altorncy,  upnii  wlioin  all  lawful 
j.roccss  can  bo  served,  with  liko  oil't!ct  as  if  said  company  i.'.xistod  in 
this  State.  Such  written  instrument,  in  case  of  liru  companies,  shall 
contain  a  provision  thai  sucli  company  will  not  remove  any  suit  against 
it  in  this  Stat(!  to  the  United  States  courts.  A  copy  of  such  written 
instrument,  or  power  of  attorney,  duly  (utrtilied  and  authenticated,  shall 
bo  (iled  with  the  Insurance?  Commissioner.  It  is  also  provid»'d  that 
service  of  any  process  may  be  made  on  any  agent  of  such  company 
in  this  Slate,  and  such  service  shall  be  valid  personal  service  upon  such 
company. 

CortififHtvs  ami  Afimtt*.  —  i^ivery  insurance  company  shall, 
before  transacting  business,  obtain  from  the  Insurance  Commissioner 
a  license  or  certificate  of  authority,  which  shall  be  renewed  annually. 

Every  agent  shall,  before  doing  busines.s,  procure  from  the  Insur- 
ance (.Commissioner  a  certilicate  authorizing  him  so  to  do.  Such  cer- 
tificate,  in  case  of  lire,  marine,  or  inland  companies,  shall  expiie  0:1  the 
3 1st  day  of  January  in  each  year,  and  in  ca.se  of  life  companies  on  the 
first  day  of  March  in  each  yuar,  and  all  such  certilicates  shall  be  re- 
newed annually. 

ExainhmtioilH  and  rtiHjtairntcnfs. — The  Insurance 
Commi.ssioner,  whenever  he  shall  deem  it  expedient,  may  examine  into 
the  condition  of  any  company  doing  business  in  this  State.  Whenever 
he  shall  deem  it  for  the  best  interest  of  the  public,  he  shall  publish 
tlie  result  of  such  examination  in  one  or  more  papers  in  this  State. 
If  it  sliall  appear  from  such  examination  tliat  the  affairs  of  any  com- 
pany are  hi  an  unsound  condition,  the  Insurance  Commissioner  shall 
revoke  the  certificate  granted  in  behalf  of  such  company,  and  cause 
notification  thereof  to  be  published  in  the  official  State  paper,  and  mail 
a  copy  thereof  to  each  agent  of  the  company. 

No  lire  or  marine  company  can  transact  business  in  this  State  if, 
after  the  company  is  charged  witb  its  proper  liabilities,  including  its 
re-insurance  fund,  the  capital  stock  of  such  company  is  impaired  to 
the  extent  of  twenty  per  cent,  thereof,  while  such  deficiencj'  continues. 

No  life  company  can  transact  business  in  this  State  if  Its  assets, 
after  providing  for  all  its  liabilities,  are  not  equal  to  its  premium  re- 
serve, ascertained  as  required  by  law.  No  acicident  company  if  its 
capital  IS  impaired  to  the  extent  of  fifteen  per  cent. 

Fire  and  Marine.  —  Every  company  transacting  business 
in  this  State,  must  possess  an  actual  cash  capital  of  two  hundred  thou- 
sand dollars.  But  mutual  companies  may  be  admitted  upon  complying 
with  the  same  rules  and  regulations  as  mutual  companies  of  this  State 
are  required  to  comply  with  in  order  to  do  business  in  the  State  where 
such  companies  are  organized. 

Annual  statements  must  be  filed  on  the  first  day  of  January  in  each 
year,  or  within  one  month  thereafter,  showing  the  condition  and  aflfairs 
of  the  company  on  the  preceding  Slst  day  of  December.     Such  state- 


law  of  tilt!  Stall 


Comiiiisaiuiier  of 
1  wlioin  till  lawful 
mwiiy  i.'xisti!(l  ill 
cuinpauii'S,  simll 
u  any  suit  agiiiiisi 
'  of  sucli  written 
itluiiilicated,  uliull 
30  jiroviih^l  lliiit 
jf  such  company 
service  upon  such 

ce  company  shall, 
CO  ('omniissionor 
niowoil  annually. 
I  from  the  Insur- 
o  do.  Such  cur. 
lall  expiio  on  the 
ciompanios  on  the 
ates  shall    be  ro- 


—  The  Insurance 
may  examine  into 
tute.  \Vhon(!Ver 
,  he  shall  publish 
ers  in  this  State, 
airs  of  any  com- 
'inmissioner  shall 
fipany,  and  cause 
,e  paper,  and  mail 

in  this  State  if, 
;ies,  including  its 
ly  is  impaired  to 
icienc}'  continues, 
tate  if  Its  assets, 

its  premium  ro- 
t  coinpany  if  its 


isacting  business 
vo  hundred  thou- 
d  upon  complying 
iiies  of  this  State 
n  the  State  where 

if  January  in  each 
idition  and  affairs 
iber.     Such  state- 


WISCONSIN. 


13:) 


*;'  '"''IXir  al  ..      r  p         ly  «  tL.  u,n„  ot  .ad,  1».  aa.l  .1,,. 

''"'rw,:«i;r;;"niu.";r;.t  „„iy  ,u..i,  a.c..»  .„  ii--j-.'>;,». 

last  filed  with  the  Insurance  Oomnussioner. 

'^z;iarK;,!rln=t'it:,i:'rii^^^^^ 

„uJi,„gin  a„y  .i<«  .■o...pa..y  £;%S,""X'S«:     s'„  '  vl;!: 

™To'S».rv«  ot  ,uch  compauie.  ahall  be  co,„puted  at  Mty  per  cent, 
nt  the  gros»  premiums  upon  all  policies  in  force. 

r-i-piuj.  -  Kvery  company  shall  file  evidence  with  the  Insuranc. 
Jiorelifn.       .:  y    „„',].,„rtalt  with  theorope.-  offical  of  some 

r  /....»>..>  -Every  fire  or  marine  company  phall  procure  a  hcense 
ljfcent(e» — mvt-i^"  «toto  Tr(>n<?urer  on  or  before  the 

and  shall  pay  as  a  license  fee  to  the  State  Ircasurer,  on  or 


f 


liU 


WISCONSIN. 


lirsl  (lay  ot  l-Vliniarv  aiiiiiiiill\ ,  llir  iniiininl  sliiti'd  licri'in  tinder  tln' 
cuplioii  '/'iijfM. 

liit'i!  cniniiiiiiii's  sliiill  |niy  ;iii  inniiiiil  liccn.-f!  iVc  of  tlircc  liiiiidrcil 
ilolliirs. 

Kucipi'iH'iil  provinioii. 

I'\'cs. —  For  liliiii^  (•crtilli'd  cojiy  nf  (•liarlcr,  iwciity-fivc  (iollitrs. 

I' 'or  liliiig  iiiiiiiKii  siiilciiiciil.  I  wciily-li\c  ildlliirs. 

Knell  life  iiisuriiiieo  nj^eiil's  eortilieiile  of  aulliiirity,  oiio  ilollur. 

Eueli  lire  iiiHiiraiiee  ajreiit's  eerliiicat*!  of  authority,  two  dollars. 

f'\ir  tivery  copy  of  any  paper  liled  in  ilie  olliec  of  \hv  insurance 
Cominissiorie;'.  fiJiei'M  cents  per  folio;  and  f>ir  allixiuf;  the  weal  to  such 
copy,  and  certilyinj;'  the  sauie,  lifty  (  ents. 

For  valuation  of  life  policies,  one  cent  for  each  one  tliousaiid  dol- 
lars of  insurance  valued. 

h\)V  examinations,  I  he  actual  exi)eiises  incurred. 

Ileciprcjcal  provisions. 

Taxes. —  Kvery  lire  or  marine  c()mj)any  in  its  annual  statement 
shfill  state  the  gross  amount  of  premiums  receiveil  in  this  Stat(3  for  the 
procoding  year,  and  shall  before  receiving  its  licenst;  pay  to  the  State 
Treasurer  a  lax  of  two  per  cent.  u])on  .such  premiums. 

Kvery  agent  of  any  tire  company,  loctitcMl  in  any  incorporated  city 
or  village  having  an  organized  lire  dcspartnient,  shall  give  liond  to  th« 
treasurer  of  such  department  in  the  pemil  sum  of  one  thous:ind  dollars, 
with  such  sureties  as  such  treasurer  shall  approve,  conditioned  that  he 
will,  on  the  first  day  of  Kebruaiy  in  each  y(!ar,  render  to  such  treas- 
urer  a  correct  statement,  under  oath,  of  all  the  premiums  received  by 
him  for  insurance  against  loss  by  lire  in  such  city  tir  villagt;  for  the 
y(^'ir  ending  on  the  preceding  lir.st  day  of  January,  and  pay  to  such 
treasurer  two  dollars  on  every  hundred,  and  at  that  rate,  upon  the 
amount  (jf  such  premiums. 

Every  such  agent  shall  pay  said  tax  of  two  dollars  on  each  one 
hundred  dollars,  on  or  before  the  first  day  of  Februray  in  each  year. 

PetmJties, —  For  doing  business  without  certillcate  of  authority, 
not  less  than  lifty  nor  more  tliati  five  hundred  dollars. 

For  willfully  making  false  statement,  not  less  than  five  hundred 
dollars  nor  more  than  one  thousand  dollars. 


ASSESSMENT   l.NSURANX'E. 

Wisconsin  has  no  laws  regulating  the  admission  of  companies  of 
other  States  except  fraternal  societies,  and  these  are  mentioned  by 
name  in  the  act  exempting  them  from  compliance  with  the  insurance 
laws. 

All  so-called  fraternal  societies  are  required  to  file  sworn  statements 
on  or  before  April  15th  of  each  year. 

All  fraternal  societies  named  in  Wisconsin  statutes  as  exempt  from 
insurance  laws,  that  are  organizations  of  States  other  than  Wisconsin, 
must  appoint  Commissioner  of  Insurance  an  attorney  on  whom  process 
can  bo  served. 

Assessment  accident  associations  admitted  after  examination  on 
same  terms  as  other  accident  companies,  discretionary  with  Com- 
missioner. 


icn'in  under  tin' 
if  tlirci'  liiiridriMl 

(y-Civc  dollars. 

,  ninj  dollar. 
,  I  wii  (l(i!l(i''.s. 
•  I'  till'   liisunuicf 
'  llic  Hi'id  to  siu^li 

lie  tliiiiiHiind  ilol- 


mminl  stutoiiioiit 
Jiis  State  I'or  the 
pay  to  tlio  t^tato 

incorporated  city 
give  iiond  to  the 
thousMiid  dollars, 
idifioiicd  that  ho 
Icr  to  such  treas- 
UMi.'^  received  by 
r  village  for  the 
and  pay  to  such 
t  rate,  upon  the 

ars  on  each  one 
ray  in  each  year. 

L'ate  of  authority, 
an  five  hundred 


of  companies  of 
■0  mentioned  by 
ith  the  insurance 

sworn  statements 

!  as  exempt  from 
than  Wisconsin, 
on  whom  process 

examination  on 
lary    with   Com- 


WYOMINO   TKKRITOUY.  13R 


WYOMING    TERRITORY. 

ILcgielamre  iiieelii  buuulitUy.    Ne.\l  i»i>i.l.>ii,  .lauimry,  WM.] 
M.    N.    (J KANT,    Awlilor,    ClIEYKNNK. 

AffnriHSioH.—  Hvery  company  desiring  to  transact  business  in 
this  territory  shall  possess  an  actual   paid-up  caj.ital   of  not  less  than 
three  hundre.l  thousand  d. .liars,  aii.l  shall  file  with  the  Auditor- 
Certified  copy  of  its  charter  or  deed  of  settlenieut. 
A  .statement,  under  oath,  of  the  president  or  vice-president  nn.I 
sccrtftary,  of  its  condition.  •  i     , 

A  power  of  attnrnev  authori/.inp  one  agent  in  each  county  resident 
at  the  county  seat  to  acknowledge  service  of  pnnvss  and  consenting 
thai  service  on  such  agent  shall  b.-  as  valid  as  if  served  on  the  company. 
Ccrtifiratrs  ami  Afffnfs.-Vlvory  agent  shall  procure  a 
certificate  of  aiithoritv  from  the  Auditor,  showing  that  the  company 
he  represents  has  complied  with  the  reciuirements  of  the  law. 

Kvery  agent,  in  all  advertisements,  shall  publish  the  location  of  the 
company  and  the  actual  paid-up  capital  and  cash  assi-ts. 

ICxaiHinafloHs  an^f  rn,j>nirntr,,ts.-'Vh^  Auditor, 
whenever  he  shall  deem  it  expedient,  may  apixmit  .me  or  more  j.ei- 
sons  to  examine  into  the  afTairs  and  condition  of  any  company  doing 
biusiness  in  this  teriitory,  or  make  such  examination  lumself  ;  and 
whenever  hv.  shall  deem  it  for  the  best  interest  of  the  pubhc  he  shall 
publish  the  results  of  such  examination  in  one  (.r  more  papers  of  tlu. 

territory.  ,        ,       „  .       .       ,  .„.,., 

If  it  shall  appear  to  the  Auditor  that  the  afTairs  of  such  coiiipan> 

are  m  an  unsound  condition,  he  shall  revoke  the  certificates  granted  in 
behalf  of  su<-h  coii.pcnv.  and  publish  sn.-h  revocation  in  some  news- 
paper  of  genc-ral  circulation  published  at  the  territorial  capital.  No 
company  shall  transact  business  in  this  terntury  if  its  capital  i,s 
impaired  to  tlu^  extent  of  twenty  per  cent,  wliile  such  deficiency  shall 
continue. 

Firr  fllHl  Muritfr.—  AumiiA  stat<-m.-nts  shall  be  tiled  on  the 
first  dav  of  January  or  within  sixty  .lays  thereaft.M-. 

The  re-insurance  fiin.l  shall  be  computed  at  fifty  per  ..-ent.  ol  tlio 
premiums  on  all  unexpired    risks  under  one  year,  and  /to  rata  on  all 

other  unexpired  risks.  ,         .,       »     i-.        i ,  ,„ 

Every  company  shall  receive  a  certificate  from  the  Amlitiir  show- 
ing  that  it  has  complied  with  the  requirements  of  law,  and  shall  pub- 
lish  the  same  in  two  m-wspapers  of  general  circulation  m  tlie  territory, 
one  of  which  shall  be  published  at  the  capital. 

Fees.  —  For  filing  examination  of  application  and  issuing  certifi- 
cate, fifty  dollars.  ^       i  n 

For  filing  annual  .statement,  twenty-five  dollars. 

For  every  certificates  of  authority,  one  dollar. 

For  each"  copy  of  pap.!r  on  file,  fifteen  cents  per  folio. 

For  certifying  the  same  and  airi.\iiig  seal,  fifty  cents. 

For  examinations,  the  actual  expenses  incurred. 


k 


136 


WYOMING    TKHHITOIIY. 


TftiTPH,  —  Every  company  shall  ho  taxed  upon  the  excess  of  pre* 
niitUTia  ovfT  losses  and  ordinary  expenses  within  the  territory  during 
the  ycnr  previous  to  the  year  of  listing,'  in  the  county  where  the  iigont 
conducts  till  liusiness,  at  the  same  rate  that  other  persoiuil  prop(!rty  is 
taxed.  The  agent  shall  render  the  list  and  bo  personally  liable  for  the 
tax. 

ASSESSMENT    INSURANCE. 

Ailntissiou.  —  Assessment  companies  must  deposit  with  Audi- 
tor a  certified  copy  of  its  charter  or  articles  of  incorporation  ;  a  copy 
of  its  statement  of  business  for  the  preceding  year  sworn  to  by  its 
president  and  secretary  or  like  officers,  giving  in  detail  expenses  and 
income,  indemnity  in  force,  assets  ajid  liabilities,  and  number  of  mem- 
b(TS  ;  a  certificate  under  oath  of  oflicfM's  that  a.i  ordinary  apsessment 
is  suflicient  to  pay  its  maximum  certificate  in  full  ;  a  copy  of  its  policy 
or  certificate  of  membership,  application,  and  by-laws,  which  must 
show  that  death  losses  are  provided  for  in  the  main  by  assessments 
upon  surviving  members  ;  shall  designate  a  person  or  agent  resiiling  in 
the  territory  to  accept  service  of  process,  or  stipulate  that  such  service 
may  bo  made  upon  the  Auditor. 

A  nil  nut  SfdfrilH'lits.  —  Must  bo  filed  on  or  before  April 
first  in  each  year.  On  failure  to  file  statement  Auditor  shall  revoke 
certificate  of  authority. 

Kji'fdilitlftflOlls,  —  The  Auditor,  as  insurance  commissioner  ex 
oificio,  .shall  iiave  power  to  examine  companies  whenever  he  shall  have 
reason  to  doubt  their  solvency  or  the  accuracy  of  their  statements, 
or  wlu!never  they  shall  fail  to  pay  the  maximum  amount  of  their  cor- 
tificates. 

Companies  are  forbidden  to  grant  certificates  without  insurable 
interest. 

The  law  does  not  apply  to  secret  benevolent  societies. 

Feeft,  —  For  admission,  on  filing  papers,  twenty-five  dollars. 
For  filing  annual  statement,  ten  dollars. 

I'ciKtffies,—  For  doing  business  without  compliance  with  law 
by  agent,  officer,  or  employee,  a  fine  of  not  less  than  fifty  nor  more 
than  a  thousand  dollars,  or  imprisonment,  or  both. 


10  excosH  of  pre- 
territory  during 
whom  the  iigont 
oiiiil  pr(iiK!rty  is 
,lly  liable  for  the 


losit  with  Amli- 
oration  ;  a  copy 
sworn  to  by  its 
ii  expoiisos  and 
lumber  of  mom- 
nary  afsessnient 
ipy  of  its  policy 
vs,  which  must 
by  assessments 
,gent  residing  in 
Iiat  such  service 

3r  before   April 
or  shall  revoke 


commissioner  ex 
•or  ho  shall  have 
heir  statements, 
int  of  their  ccr- 

Ithout  insurable 

ies. 

five  dollars. 

liance  with  law 
fifty  nor  more 


^n 


y 


„£j^ 


